Financial Institutions (NASDAQ:FISI) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Financial Institutions, Inc. (NASDAQ:FISI) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $25.70 and traded as high as $27.15. Financial Institutions shares last traded at $26.70, with a volume of 90,666 shares trading hands.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Financial Institutions presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Financial Institutions Trading Down 1.1%

The stock has a market cap of $537.47 million, a PE ratio of -17.57 and a beta of 0.74. The business’s fifty day moving average is $26.55 and its 200 day moving average is $25.70. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.20.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Financial Institutions had a negative net margin of 4.96% and a positive return on equity of 10.44%. The firm had revenue of $59.74 million for the quarter, compared to the consensus estimate of $59.86 million. As a group, analysts predict that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Monday, September 15th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, September 15th. Financial Institutions’s dividend payout ratio is -81.58%.

Financial Institutions announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 22nd that allows the company to repurchase $1.00 million in outstanding shares. This repurchase authorization allows the bank to buy up to 0.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Financial Institutions

Several institutional investors and hedge funds have recently modified their holdings of the business. PL Capital Advisors LLC lifted its holdings in shares of Financial Institutions by 8.0% in the second quarter. PL Capital Advisors LLC now owns 1,361,510 shares of the bank’s stock valued at $34,964,000 after purchasing an additional 100,500 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Financial Institutions by 11.5% in the first quarter. Vanguard Group Inc. now owns 1,031,395 shares of the bank’s stock valued at $25,744,000 after purchasing an additional 106,110 shares in the last quarter. Fourthstone LLC lifted its holdings in shares of Financial Institutions by 54.8% in the second quarter. Fourthstone LLC now owns 846,661 shares of the bank’s stock valued at $21,742,000 after purchasing an additional 299,574 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Financial Institutions by 0.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 778,821 shares of the bank’s stock valued at $20,000,000 after purchasing an additional 3,650 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Financial Institutions in the fourth quarter valued at about $18,294,000. Hedge funds and other 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.