Zacks: Analysts Set $33.00 Target Price for Financial Institutions, Inc. (FISI)

Shares of Financial Institutions, Inc. (NASDAQ:FISI) have been given an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.

Analysts have set a 12 month consensus target price of $33.00 for the company and are forecasting 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 178 out of 265 based on the ratings given to its competitors.

A number of research firms recently commented on FISI. BidaskClub upgraded shares of Financial Institutions from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods cut shares of Financial Institutions to a “market perform” rating and set a $35.00 target price for the company. in a report on Thursday. Hovde Group restated a “buy” rating and set a $36.00 target price on shares of Financial Institutions in a report on Friday, February 2nd. Finally, ValuEngine cut shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Thursday, March 1st.

Financial Institutions stock traded up $0.20 during midday trading on Monday, hitting $31.85. 21,213 shares of the company were exchanged, compared to its average volume of 47,433. Financial Institutions has a fifty-two week low of $25.65 and a fifty-two week high of $35.35. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $503.37, a price-to-earnings ratio of 14.88 and a beta of 1.13.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings data on Monday, January 29th. The bank reported $0.50 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.50. Financial Institutions had a net margin of 20.34% and a return on equity of 9.07%. The business had revenue of $38.75 million for the quarter. analysts forecast that Financial Institutions will post 2.34 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.01%. This is a boost from Financial Institutions’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, March 14th. Financial Institutions’s dividend payout ratio (DPR) is presently 45.28%.

In other Financial Institutions news, Director Andrew W. Dorn, Jr. bought 1,557 shares of Financial Institutions stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $526,119.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.49% of the company’s stock.

A number of institutional investors have recently bought and sold shares of FISI. Ramsey Quantitative Systems acquired a new position in Financial Institutions in the 4th quarter worth approximately $113,000. SG Americas Securities LLC acquired a new stake in shares of Financial Institutions during the 3rd quarter valued at $139,000. Cutler Capital Management LLC acquired a new stake in shares of Financial Institutions during the 4th quarter valued at $187,000. MetLife Investment Advisors LLC acquired a new stake in shares of Financial Institutions during the 4th quarter valued at $201,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Financial Institutions during the 4th quarter valued at $224,000. 71.00% of the stock is owned by hedge funds and other institutional investors.

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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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