Financial Institutions (NASDAQ:FISI) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Financial Institutions, Inc. (NASDAQ:FISI) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.32 and traded as high as $28.75. Financial Institutions shares last traded at $28.21, with a volume of 234,099 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FISI. Stephens restated an “equal weight” rating and set a $33.00 price target on shares of Financial Institutions in a research report on Friday, January 31st. Piper Sandler began coverage on Financial Institutions in a research report on Friday, December 20th. They issued an “overweight” rating and a $33.00 price objective on the stock. StockNews.com upgraded Financial Institutions from a “sell” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, Keefe, Bruyette & Woods upgraded shares of Financial Institutions from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $29.00 to $34.00 in a report on Monday, February 3rd.

Financial Institutions Price Performance

The firm has a 50-day simple moving average of $27.40 and a 200 day simple moving average of $26.32. The firm has a market cap of $436.52 million, a PE ratio of -19.46 and a beta of 0.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.20). Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. As a group, equities analysts expect that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 14th will be paid a dividend of $0.31 per share. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend is Friday, March 14th. Financial Institutions’s dividend payout ratio (DPR) is currently -85.52%.

Insider Buying and Selling at Financial Institutions

In related news, Director Robert N. Latella bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the director now owns 16,000 shares of the company’s stock, valued at $400,000. This trade represents a 33.33 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Financial Institutions

Several institutional investors have recently made changes to their positions in FISI. Wealth Enhancement Advisory Services LLC increased its holdings in Financial Institutions by 20.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,732 shares of the bank’s stock worth $375,000 after acquiring an additional 2,456 shares in the last quarter. US Bancorp DE boosted its position in shares of Financial Institutions by 119.3% during the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock valued at $66,000 after acquiring an additional 1,399 shares during the last quarter. EMC Capital Management boosted its position in shares of Financial Institutions by 23.0% during the 3rd quarter. EMC Capital Management now owns 8,709 shares of the bank’s stock valued at $222,000 after acquiring an additional 1,629 shares during the last quarter. PL Capital Advisors LLC raised its holdings in Financial Institutions by 408.0% during the 3rd quarter. PL Capital Advisors LLC now owns 1,771,516 shares of the bank’s stock valued at $45,121,000 after buying an additional 1,422,765 shares during the period. Finally, Summit Global Investments purchased a new stake in Financial Institutions in the third quarter worth $384,000. Institutional investors own 60.45% of the company’s stock.

About Financial Institutions

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 provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.