Financial Institutions (NASDAQ:FISI)‘s stock had its “buy” rating reiterated by research analysts at Hovde Group in a research note issued to investors on Friday. They presently have a $36.00 price objective on the bank’s stock. Hovde Group’s price objective suggests a potential upside of 13.21% from the company’s previous close.
Several other analysts have also commented on the company. BidaskClub lowered Financial Institutions from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $33.00 target price on shares of Financial Institutions in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $33.50.
Shares of Financial Institutions (NASDAQ:FISI) traded down $0.50 during mid-day trading on Friday, hitting $31.80. The stock had a trading volume of 72,704 shares, compared to its average volume of 46,957. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $482.97, a price-to-earnings ratio of 15.00 and a beta of 1.16. Financial Institutions has a fifty-two week low of $25.65 and a fifty-two week high of $35.40.
In related news, Director Andrew W. Dorn, Jr. bought 1,557 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were purchased at an average cost of $30.95 per share, with a total value of $48,189.15. Following the completion of the acquisition, the director now directly owns 16,999 shares in the company, valued at $526,119.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Martin Kearney Birmingham bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average cost of $31.65 per share, for a total transaction of $31,650.00. Following the completion of the acquisition, the chief executive officer now owns 82,916 shares of the company’s stock, valued at $2,624,291.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 6,496 shares of company stock worth $207,123. 5.49% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of FISI. SG Americas Securities LLC purchased a new position in Financial Institutions during the third quarter worth approximately $139,000. Brandywine Global Investment Management LLC boosted its position in Financial Institutions by 17.4% during the second quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock worth $142,000 after purchasing an additional 702 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Financial Institutions during the second quarter worth approximately $216,000. Virtu KCG Holdings LLC purchased a new position in Financial Institutions during the second quarter worth approximately $219,000. Finally, Wells Fargo & Company MN boosted its position in Financial Institutions by 1.7% during the second quarter. Wells Fargo & Company MN now owns 9,351 shares of the bank’s stock worth $279,000 after purchasing an additional 159 shares in the last quarter. Institutional investors own 69.18% of the company’s stock.
About Financial Institutions
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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