BidaskClub downgraded shares of Financial Institutions (NASDAQ:FISI) from a buy rating to a hold rating in a report published on Tuesday, December 19th.
Several other research analysts have also commented on FISI. Keefe, Bruyette & Woods restated a hold rating and issued a $33.00 price objective on shares of Financial Institutions in a report on Thursday, October 26th. ValuEngine lowered shares of Financial Institutions from a buy rating to a hold rating in a report on Thursday, September 7th. Finally, Piper Jaffray Companies restated a hold rating and issued a $31.50 price objective on shares of Financial Institutions in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Financial Institutions has a consensus rating of Hold and an average price target of $32.25.
Financial Institutions (NASDAQ FISI) traded up $0.80 during trading hours on Tuesday, reaching $32.75. 68,392 shares of the company were exchanged, compared to its average volume of 53,074. Financial Institutions has a 52 week low of $25.65 and a 52 week high of $35.40. 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 company has a market cap of $483.35, a price-to-earnings ratio of 16.29 and a beta of 1.24.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 14th were issued a $0.22 dividend. The ex-dividend date was Wednesday, December 13th. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.69%. Financial Institutions’s dividend payout ratio is 43.78%.
In other Financial Institutions news, CEO Martin Kearney Birmingham bought 1,000 shares of Financial Institutions stock in a transaction dated Monday, November 20th. The shares were purchased at an average cost of $31.65 per share, with a total value of $31,650.00. Following the transaction, the chief executive officer now directly owns 82,916 shares of the company’s stock, valued at $2,624,291.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph L. Dugan bought 930 shares of Financial Institutions stock in a transaction dated Tuesday, November 21st. The stock was acquired 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. Insiders acquired a total of 4,939 shares of company stock valued at $158,934 over the last 90 days. Company insiders own 5.49% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Financial Institutions by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,034,254 shares of the bank’s stock worth $29,786,000 after buying an additional 66,983 shares during the period. Commonwealth Equity Services Inc grew its position in Financial Institutions by 0.9% during the 3rd quarter. Commonwealth Equity Services Inc now owns 617,858 shares of the bank’s stock valued at $17,794,000 after purchasing an additional 5,295 shares during the last quarter. Vanguard Group Inc. grew its position in Financial Institutions by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 589,796 shares of the bank’s stock valued at $17,576,000 after purchasing an additional 5,443 shares during the last quarter. JPMorgan Chase & Co. grew its position in Financial Institutions by 3.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 519,523 shares of the bank’s stock valued at $15,481,000 after purchasing an additional 15,283 shares during the last quarter. Finally, Northern Trust Corp grew its position in Financial Institutions by 2.2% during the 2nd quarter. Northern Trust Corp now owns 281,828 shares of the bank’s stock valued at $8,398,000 after purchasing an additional 6,132 shares during the last quarter. 69.20% of the stock is currently 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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