Analysts Set $34.50 Price Target for Financial Institutions, Inc. (FISI)
Shares of Financial Institutions, Inc. (NASDAQ:FISI) have earned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Analysts have set a one year consensus target price of $34.50 for the company and are expecting that the company will post $0.50 EPS for the current quarter, according to Zacks. Zacks has also assigned Financial Institutions an industry rank of 165 out of 265 based on the ratings given to its competitors.
Several equities analysts recently commented on the stock. ValuEngine lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $31.50 target price on shares of Financial Institutions in a report on Wednesday, October 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $33.00 target price on shares of Financial Institutions in a report on Friday, September 22nd.
Financial Institutions (NASDAQ:FISI) last released its earnings results on Tuesday, October 24th. The bank reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. Financial Institutions had a net margin of 19.46% and a return on equity of 9.66%. The company had revenue of $37.01 million for the quarter. analysts anticipate that Financial Institutions will post 1.94 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 14th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Wednesday, December 13th. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.21. Financial Institutions’s dividend payout ratio (DPR) is 41.79%.
In other news, CEO Martin Kearney Birmingham purchased 1,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were acquired at an average price of $31.65 per share, with a total value of $31,650.00. Following the acquisition, the chief executive officer now directly owns 82,916 shares in the company, valued at $2,624,291.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph L. Dugan purchased 930 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was purchased at an average cost of $32.15 per share, for a total transaction of $29,899.50. The disclosure for this purchase can be found here. In the last three months, insiders acquired 3,939 shares of company stock worth $126,594. Insiders own 5.49% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. IFC Holdings Incorporated FL grew its holdings in Financial Institutions by 0.7% in the 2nd quarter. IFC Holdings Incorporated FL now owns 9,409 shares of the bank’s stock worth $280,000 after acquiring an additional 62 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of 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 in the last quarter. Brandywine Global Investment Management LLC boosted its stake in shares of 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 in the last quarter. Teachers Advisors LLC boosted its stake in shares of 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 in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Financial Institutions by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,560 shares of the bank’s stock valued at $374,000 after purchasing an additional 860 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors and hedge funds.
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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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