Insider Buying: Thomas E. Baker Acquires 2,281 Shares of First Niagara Financial Group Stock (FNFG)
First Niagara Financial Group (NASDAQ:FNFG) Director Thomas E. Baker bought 2,281 shares of the company’s stock in a transaction that occurred on Friday, July 11th. The shares were purchased at an average cost of $8.95 per share, with a total value of $20,414.95. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $35,800. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
FNFG has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods cut their price target on shares of First Niagara Financial Group from $10.00 to $9.50 in a research note on Tuesday, June 24th. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of First Niagara Financial Group in a research note on Wednesday, May 21st. They now have a $10.50 price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of First Niagara Financial Group in a research note on Monday, April 28th. They now have a $9.50 price target on the stock. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $9.89.
Shares of First Niagara Financial Group (NASDAQ:FNFG) opened at 8.78 on Thursday. First Niagara Financial Group has a 52 week low of $8.19 and a 52 week high of $11.34. The stock’s 50-day moving average is $8.74 and its 200-day moving average is $9.05. The company has a market cap of $3.073 billion and a P/E ratio of 12.11.
First Niagara Financial Group (NASDAQ:FNFG) last announced its earnings results on Friday, April 25th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.02. The company had revenue of $347.47 million for the quarter, compared to the consensus estimate of $363.18 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts predict that First Niagara Financial Group will post $0.69 earnings per share for the current fiscal year.
First Niagara Financial Group, Inc provides a range of retail and commercial banking, as well as other financial services through its wholly owned bank subsidiary, First Niagara Bank, N.
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