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

Shares of Financial Institutions, Inc. (NASDAQ:FISI) have been given an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating. Financial Institutions’ rating score has declined by 50% in the last three months as a result of various analysts’ ratings changes.

Brokerages have set a 12-month consensus price target of $33.00 for the company and are expecting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also assigned Financial Institutions an industry rank of 168 out of 265 based on the ratings given to related companies.

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Several analysts have issued reports on the stock. BidaskClub downgraded shares of Financial Institutions from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Keefe, Bruyette & Woods downgraded shares of Financial Institutions to a “market perform” rating and set a $35.00 target price on the stock. in a research note on Thursday, March 15th. ValuEngine downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, Hovde Group reaffirmed a “buy” rating and issued a $36.00 price target on shares of Financial Institutions in a research note on Friday, February 2nd.

In related news, Director Andrew W. Dorn, Jr. purchased 1,557 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were acquired at an average cost of $30.95 per share, with a total value of $48,189.15. Following the completion of the purchase, 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 the SEC website. Corporate insiders own 5.49% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ramsey Quantitative Systems acquired a new position in shares of Financial Institutions in the fourth quarter worth $113,000. SG Americas Securities LLC acquired a new position in shares of Financial Institutions in the third quarter worth $139,000. Cutler Capital Management LLC acquired a new position in shares of Financial Institutions in the fourth quarter worth $187,000. MetLife Investment Advisors LLC acquired a new position in shares of Financial Institutions in the fourth quarter worth $201,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Financial Institutions in the fourth quarter worth $224,000. 69.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of Financial Institutions stock traded up $0.70 during trading hours on Monday, reaching $30.35. 36,794 shares of the company’s stock traded hands, compared to its average volume of 46,345. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.77 and a current ratio of 0.77. Financial Institutions has a 52 week low of $25.65 and a 52 week high of $35.35. The firm has a market cap of $471.57, a P/E ratio of 13.99 and a beta of 1.13.

Financial Institutions (NASDAQ:FISI) last announced its earnings results on Monday, January 29th. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. Financial Institutions had a net margin of 20.34% and a return on equity of 9.07%. The company had revenue of $38.75 million for the quarter. analysts expect that Financial Institutions will post 2.34 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from Financial Institutions’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.16%. Financial Institutions’s dividend payout ratio is 45.28%.

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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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