Zacks: Financial Institutions Inc. (FISI) Given Consensus Recommendation of “Hold” by Analysts
Shares of Financial Institutions Inc. (NASDAQ:FISI) have earned a consensus broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.
Brokerages have set a 12 month consensus target price of $26.50 for the company and are forecasting that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Financial Institutions an industry rank of 155 out of 265 based on the ratings given to its competitors.
Separately, Keefe, Bruyette & Woods raised their price target on shares of Financial Institutions from $26.00 to $27.00 and gave the company a “market perform” rating in a report on Thursday, July 28th.
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In other news, Director Andrew W. Dorn, Jr. acquired 1,000 shares of the stock in a transaction on Friday, July 29th. The stock was bought at an average price of $27.11 per share, with a total value of $27,110.00. Following the completion of the transaction, the director now directly owns 12,205 shares of the company’s stock, valued at $330,877.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO William L. Kreienberg acquired 3,000 shares of the stock in a transaction on Wednesday, August 17th. The stock was purchased at an average cost of $26.43 per share, with a total value of $79,290.00. Following the transaction, the chief accounting officer now directly owns 4,485 shares of the company’s stock, valued at $118,538.55. The disclosure for this purchase can be found here. 6.23% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of FISI. Wellington Management Group LLP increased its stake in shares of Financial Institutions by 3.3% in the first quarter. Wellington Management Group LLP now owns 1,090,228 shares of the company’s stock valued at $31,693,000 after buying an additional 34,907 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Financial Institutions by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 795,340 shares of the company’s stock valued at $20,734,000 after buying an additional 33,267 shares during the period. Vanguard Group Inc. increased its stake in shares of Financial Institutions by 3.7% in the second quarter. Vanguard Group Inc. now owns 518,280 shares of the company’s stock valued at $13,512,000 after buying an additional 18,490 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Financial Institutions by 1.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 480,577 shares of the company’s stock valued at $12,529,000 after buying an additional 8,904 shares during the period. Finally, LSV Asset Management increased its stake in shares of Financial Institutions by 5.4% in the second quarter. LSV Asset Management now owns 342,760 shares of the company’s stock valued at $8,935,000 after buying an additional 17,483 shares during the period. 59.18% of the stock is owned by institutional investors.
Financial Institutions (NASDAQ:FISI) traded down 0.45% on Monday, reaching $26.46. 4,962 shares of the company’s stock traded hands. The stock has a 50-day moving average of $26.87 and a 200 day moving average of $27.16. The firm has a market capitalization of $382.45 million, a P/E ratio of 13.43 and a beta of 1.05. Financial Institutions has a 52 week low of $24.56 and a 52 week high of $29.53.
Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Financial Institutions had a net margin of 20.63% and a return on equity of 10.28%. On average, equities analysts expect that Financial Institutions will post $1.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.01%. The ex-dividend date was Thursday, September 8th. Financial Institutions’s dividend payout ratio (DPR) is 40.61%.
About Financial Institutions
Financial Institutions, Inc (FII) is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank, and Scott Danahy Naylon, LLC (SDN), a full service insurance agency. The Company offers an array of deposit, lending, insurance services and other financial services to individuals, municipalities and businesses in Western and Central New York through the Bank.
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