Keefe, Bruyette & Woods Reaffirms Hold Rating for Financial Institutions, Inc. (FISI)
Financial Institutions, Inc. (NASDAQ:FISI)‘s stock had its “hold” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a note issued to investors on Friday. They presently have a $33.00 target price on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 17.86% from the company’s current price.
Several other equities analysts also recently issued reports on the stock. ValuEngine raised shares of Financial Institutions from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Piper Jaffray Companies reissued a “hold” rating and set a $31.50 price target on shares of Financial Institutions in a report on Thursday, August 3rd.
Shares of Financial Institutions (NASDAQ FISI) traded up 0.54% during midday trading on Friday, hitting $28.00. 34,440 shares of the stock were exchanged. The stock’s 50 day moving average is $27.25 and its 200 day moving average is $30.49. Financial Institutions has a 12-month low of $25.65 and a 12-month high of $35.40. The firm has a market cap of $419.94 million, a P/E ratio of 13.67 and a beta of 1.20.
Financial Institutions (NASDAQ:FISI) last issued its earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.08). Financial Institutions had a net margin of 20.08% and a return on equity of 10.03%. The business had revenue of $36.76 million for the quarter. On average, equities research analysts forecast that Financial Institutions will post $1.96 earnings per share for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. IFC Holdings Incorporated FL lifted its holdings in Financial Institutions by 0.7% during the 2nd quarter. IFC Holdings Incorporated FL now owns 9,409 shares of the bank’s stock valued at $280,000 after purchasing an additional 62 shares during the last quarter. American International Group Inc. lifted its holdings in Financial Institutions by 1.1% during the 1st quarter. American International Group Inc. now owns 8,060 shares of the bank’s stock valued at $266,000 after purchasing an additional 85 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Financial Institutions by 1.7% during the 2nd quarter. Wells Fargo & Company MN now owns 9,351 shares of the bank’s stock valued at $279,000 after purchasing an additional 159 shares during the last quarter. Brandywine Global Investment Management LLC lifted its holdings in Financial Institutions by 17.4% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock valued at $142,000 after purchasing an additional 702 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in Financial Institutions by 3.3% during the 2nd quarter. Teachers Advisors LLC now owns 24,496 shares of the bank’s stock valued at $730,000 after purchasing an additional 777 shares during the last quarter. 67.11% of the stock is owned by hedge funds and other 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.
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