StockNews.com Lowers Financial Institutions (NASDAQ:FISI) to Hold

Financial Institutions (NASDAQ:FISIGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

Separately, Zacks Investment Research upgraded shares of Financial Institutions from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Monday, May 2nd.

Shares of NASDAQ:FISI traded up $0.35 during trading on Monday, hitting $27.10. 39,281 shares of the company traded hands, compared to its average volume of 53,909. The stock has a market capitalization of $414.60 million, a price-to-earnings ratio of 6.10 and a beta of 1.04. The business’s fifty day moving average is $29.23 and its 200-day moving average is $31.15. Financial Institutions has a one year low of $26.22 and a one year high of $34.43. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.17.

Financial Institutions (NASDAQ:FISIGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.17. Financial Institutions had a return on equity of 15.44% and a net margin of 33.70%. The business had revenue of $50.88 million during the quarter, compared to analyst estimates of $49.61 million. During the same period in the prior year, the company posted $1.27 EPS. On average, analysts forecast that Financial Institutions will post 3.47 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can boosted its position in Financial Institutions by 177.3% during the first quarter. Great West Life Assurance Co. Can now owns 857 shares of the bank’s stock worth $26,000 after purchasing an additional 548 shares during the period. Advisor Group Holdings Inc. lifted its position in Financial Institutions by 396.9% in the third quarter. Advisor Group Holdings Inc. now owns 954 shares of the bank’s stock worth $30,000 after purchasing an additional 762 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Financial Institutions by 68.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,433 shares of the bank’s stock worth $45,000 after acquiring an additional 583 shares during the period. Citigroup Inc. increased its stake in Financial Institutions by 52.7% in the third quarter. Citigroup Inc. now owns 1,759 shares of the bank’s stock valued at $54,000 after acquiring an additional 607 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Financial Institutions by 96.9% in the third quarter. BNP Paribas Arbitrage SA now owns 4,172 shares of the bank’s stock valued at $128,000 after acquiring an additional 2,053 shares during the period. 68.82% of the stock is owned by hedge funds and other institutional investors.

About Financial Institutions (Get Rating)

Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company offers checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts.

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