Financial Institutions, Inc. (NASDAQ:FISI) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Separately, Piper Jaffray Companies restated a “hold” rating and issued a $31.50 price target on shares of Financial Institutions in a research report on Thursday, August 3rd.

Shares of Financial Institutions (FISI) traded down 3.01% during midday trading on Thursday, hitting $25.80. 82,054 shares of the company’s stock traded hands. The firm has a market capitalization of $386.95 million, a price-to-earnings ratio of 12.59 and a beta of 1.20. The company has a 50 day moving average price of $27.94 and a 200 day moving average price of $30.97. Financial Institutions has a 1-year low of $25.65 and a 1-year high of $35.40.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.08. The firm had revenue of $36.76 million during the quarter. Financial Institutions had a net margin of 20.08% and a return on equity of 10.03%. Equities analysts anticipate that Financial Institutions will post $1.96 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Financial Institutions in the second quarter worth about $216,000. The Manufacturers Life Insurance Company raised its stake in shares of Financial Institutions by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 12,560 shares of the bank’s stock worth $374,000 after acquiring an additional 860 shares during the last quarter. State Street Corp raised its stake in shares of Financial Institutions by 9.0% in the second quarter. State Street Corp now owns 262,643 shares of the bank’s stock worth $7,829,000 after acquiring an additional 21,760 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Financial Institutions by 12.7% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 50,495 shares of the bank’s stock worth $1,504,000 after acquiring an additional 5,700 shares during the last quarter. Finally, Numeric Investors LLC raised its stake in shares of Financial Institutions by 306.4% in the second quarter. Numeric Investors LLC now owns 241,803 shares of the bank’s stock worth $7,206,000 after acquiring an additional 182,306 shares during the last quarter. 67.11% of the stock is owned by institutional investors.

Financial Institutions Company Profile

Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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