Financial Institutions (FISI) Lifted to “Sell” at BidaskClub
BidaskClub upgraded shares of Financial Institutions (NASDAQ:FISI) from a strong sell rating to a sell rating in a research note released on Wednesday.
A number of other equities analysts have also commented on FISI. Hovde Group restated a buy rating and set a $36.00 price objective on shares of Financial Institutions in a research note on Friday, February 2nd. ValuEngine lowered Financial Institutions from a buy rating to a hold rating in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Financial Institutions has a consensus rating of Hold and an average target price of $33.50.
Financial Institutions (FISI) traded up $0.65 during trading on Wednesday, reaching $32.55. The company’s stock had a trading volume of 27,061 shares, compared to its average volume of 43,303. Financial Institutions has a 12-month low of $25.65 and a 12-month high of $35.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $508.63, a price-to-earnings ratio of 15.35 and a beta of 1.13.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Wednesday, March 14th. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.22. Financial Institutions’s dividend payout ratio (DPR) is 41.51%.
In related news, Director Andrew W. Dorn, Jr. acquired 1,557 shares of the stock in a transaction on Thursday, February 1st. The shares were purchased at an average price of $30.95 per share, for a total transaction of $48,189.15. Following the purchase, the director now directly owns 16,999 shares in the company, valued at $526,119.05. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert M. Glaser acquired 1,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were bought at an average price of $32.34 per share, for a total transaction of $32,340.00. Following the purchase, the director now owns 13,451 shares in the company, valued at $435,005.34. The disclosure for this purchase can be found here. 5.49% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Ramsey Quantitative Systems bought a new position in shares of Financial Institutions in the 4th quarter valued at $113,000. SG Americas Securities LLC bought a new position in shares of Financial Institutions in the 3rd quarter valued at $139,000. Cutler Capital Management LLC bought a new position in shares of Financial Institutions in the 4th quarter valued at $187,000. MetLife Investment Advisors LLC bought a new position in shares of Financial Institutions in the 4th quarter valued at $201,000. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Financial Institutions in the 4th quarter valued at $224,000. Institutional investors own 74.88% of the company’s stock.
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Financial Institutions Company Profile
Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.
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