Financial Institutions (NASDAQ:FISI) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Financial Institutions (NASDAQ:FISI – Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Financial Institutions Stock Up 2.1%

Shares of Financial Institutions stock opened at $27.59 on Friday. The firm has a market capitalization of $554.83 million, a PE ratio of -36.79 and a beta of 0.71. Financial Institutions has a 12-month low of $20.21 and a 12-month high of $29.79. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $26.06 and its 200-day moving average is $26.01.

Financial Institutions (NASDAQ:FISI – Get Free Report) last issued its earnings results on Monday, April 28th. The bank reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07. Financial Institutions had a positive return on equity of 12.69% and a negative net margin of 2.63%. The company had revenue of $57.24 million for the quarter, compared to analyst estimates of $57.14 million. Equities analysts anticipate that Financial Institutions will post 3.3 earnings per share for the current year.

Financial Institutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 13th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 4.49%. Financial Institutions’s dividend payout ratio (DPR) is presently -165.33%.

Institutional Trading of Financial Institutions

Several hedge funds have recently added to or reduced their stakes in FISI. Rhumbline Advisers raised its holdings in Financial Institutions by 5.0% in the 1st quarter. Rhumbline Advisers now owns 24,489 shares of the bank’s stock valued at $611,000 after acquiring an additional 1,157 shares in the last quarter. Mendon Capital Advisors Corp raised its holdings in Financial Institutions by 11.7% in the 1st quarter. Mendon Capital Advisors Corp now owns 111,720 shares of the bank’s stock valued at $2,789,000 after acquiring an additional 11,720 shares in the last quarter. Jane Street Group LLC acquired a new position in Financial Institutions in the 1st quarter valued at approximately $375,000. Empowered Funds LLC raised its holdings in Financial Institutions by 7.1% in the 1st quarter. Empowered Funds LLC now owns 74,841 shares of the bank’s stock valued at $1,868,000 after acquiring an additional 4,979 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Financial Institutions in the 1st quarter valued at approximately $400,000. Institutional investors own 60.45% of the company’s stock.

Financial Institutions Company Profile

(Get Free Report)

Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.

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