Financial Institutions (FISI) Rating Lowered to Hold at Zacks Investment Research

Financial Institutions (NASDAQ:FISI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “Financial Institution Inc. is a bank holding company. The banks provide a wide range of consumer and commercial banking services and products to individuals, municipalities and small and medium size businesses, including agribusiness. While the banks function as community banks, the company strives to provide their customers with a broad range of competitive services generally provided only by larger, regional banks. “

A number of other equities analysts have also recently commented on FISI. BidaskClub raised Financial Institutions from a “hold” rating to a “buy” rating in a report on Tuesday, May 8th. Hovde Group reaffirmed a “buy” rating and issued a $36.00 target price on shares of Financial Institutions in a report on Friday, February 2nd. Keefe, Bruyette & Woods cut Financial Institutions to a “market perform” rating and set a $35.00 target price on the stock. in a report on Thursday, March 15th. Finally, ValuEngine cut Financial Institutions from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Financial Institutions presently has an average rating of “Hold” and an average target price of $34.38.

Financial Institutions stock traded up $0.30 during trading on Thursday, reaching $32.15. The company had a trading volume of 21,200 shares, compared to its average volume of 43,400. Financial Institutions has a 52 week low of $31.62 and a 52 week high of $31.85. The stock has a market cap of $503.41 million, a P/E ratio of 16.57 and a beta of 1.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.78 and a current ratio of 0.78.

Financial Institutions (NASDAQ:FISI) last announced its earnings results on Thursday, April 26th. The bank reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.01). Financial Institutions had a return on equity of 9.10% and a net margin of 20.41%. The company had revenue of $38.61 million during the quarter. analysts predict that Financial Institutions will post 2.4 EPS for the current year.

Large investors have recently bought and sold shares of the business. Ramsey Quantitative Systems bought a new stake in Financial Institutions during the fourth quarter valued at about $113,000. SG Americas Securities LLC bought a new stake in Financial Institutions during the first quarter valued at about $141,000. Cutler Capital Management LLC bought a new stake in Financial Institutions during the fourth quarter valued at about $187,000. MetLife Investment Advisors LLC bought a new stake in Financial Institutions during the fourth quarter valued at about $201,000. Finally, UBS Asset Management Americas Inc. bought a new stake in Financial Institutions during the fourth quarter valued at about $224,000. 70.41% of the stock is currently owned by institutional investors and hedge funds.

Financial Institutions Company Profile

Financial Institutions, Inc operates as the holding company for Five Star Bank that provides banking and financial services to individuals, municipalities, and businesses. It operates in two segments, Banking and Non-Banking. The company offers checking and savings account programs, including money market accounts, certificates of deposit, and sweep investments, as well as individual retirement and other qualified plan accounts.

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