Financial Institutions, Inc. (NASDAQ:FISI) has received a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Analysts have set a 12-month consensus target price of $35.00 for the company and are anticipating that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also given Financial Institutions an industry rank of 177 out of 265 based on the ratings given to related companies.
Several equities research analysts have issued reports on the company. BidaskClub lowered Financial Institutions from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Hovde Group reaffirmed a “buy” rating and set a $36.00 price target on shares of Financial Institutions in a research note on Friday, February 2nd. Finally, ValuEngine lowered Financial Institutions from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st.
Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Monday, January 29th. The bank reported $0.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Financial Institutions had a return on equity of 9.31% and a net margin of 20.34%. The firm had revenue of $38.75 million during the quarter. equities analysts expect that Financial Institutions will post 2.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.01%. This is an increase from Financial Institutions’s previous quarterly dividend of $0.22. Financial Institutions’s payout ratio is currently 41.51%.
In related news, Director Andrew W. Dorn, Jr. acquired 1,557 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were purchased at an average price of $30.95 per share, for a total transaction of $48,189.15. Following the completion of the acquisition, the director now owns 16,999 shares in the company, valued at $526,119.05. The purchase was disclosed in a filing with the SEC, which is available at this link. 5.49% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services Inc increased its holdings in shares of Financial Institutions by 0.9% in the third quarter. Commonwealth Equity Services Inc now owns 617,858 shares of the bank’s stock worth $17,794,000 after buying an additional 5,295 shares during the period. Bailard Inc. purchased a new position in shares of Financial Institutions in the fourth quarter worth about $2,239,000. Ameriprise Financial Inc. purchased a new position in shares of Financial Institutions in the second quarter worth about $379,000. Ramsey Quantitative Systems purchased a new position in shares of Financial Institutions in the fourth quarter worth about $113,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Financial Institutions by 16.0% in the third quarter. Victory Capital Management Inc. now owns 57,300 shares of the bank’s stock worth $1,650,000 after buying an additional 7,920 shares during the period. Hedge funds and other institutional investors own 74.95% of the company’s stock.
WARNING: “Financial Institutions, Inc. (FISI) Given Average Rating of “Buy” by Brokerages” was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this report on another website, it was illegally copied and republished in violation of U.S. and international copyright law. The original version of this report can be accessed at https://stocknewstimes.com/2018/03/14/financial-institutions-inc-fisi-given-average-rating-of-buy-by-brokerages.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Financial Institutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Financial Institutions and related companies with MarketBeat.com's FREE daily email newsletter.