Financial Institutions (FISI) Downgraded to “Sell” at ValuEngine

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ValuEngine lowered shares of Financial Institutions (NASDAQ:FISI) from a hold rating to a sell rating in a research note published on Tuesday morning.

FISI has been the subject of several other reports. Zacks Investment Research cut shares of Financial Institutions from a buy rating to a hold rating in a research report on Friday, January 4th. BidaskClub upgraded shares of Financial Institutions from a sell rating to a hold rating in a research report on Wednesday, February 20th.

NASDAQ FISI opened at $28.98 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $466.55 million, a price-to-earnings ratio of 11.28 and a beta of 0.92. Financial Institutions has a 12-month low of $24.49 and a 12-month high of $34.35.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings data on Thursday, January 31st. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.05. The firm had revenue of $41.38 million during the quarter, compared to the consensus estimate of $40.40 million. Financial Institutions had a net margin of 20.89% and a return on equity of 11.41%. On average, research analysts forecast that Financial Institutions will post 2.62 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from Financial Institutions’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 3.45%. Financial Institutions’s payout ratio is presently 37.35%.

Large investors have recently modified their holdings of the company. Federated Investors Inc. PA raised its position in shares of Financial Institutions by 25.6% in the 3rd quarter. Federated Investors Inc. PA now owns 35,517 shares of the bank’s stock valued at $1,115,000 after buying an additional 7,236 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new position in Financial Institutions during the 3rd quarter worth approximately $405,000. Vanguard Group Inc. increased its position in Financial Institutions by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 677,773 shares of the bank’s stock worth $21,283,000 after purchasing an additional 6,996 shares in the last quarter. Morgan Stanley increased its position in Financial Institutions by 121.4% during the 3rd quarter. Morgan Stanley now owns 238,672 shares of the bank’s stock worth $7,494,000 after purchasing an additional 130,863 shares in the last quarter. Finally, Walthausen & Co. LLC acquired a new position in Financial Institutions during the 3rd quarter worth approximately $1,332,000. Institutional investors own 70.02% of the company’s stock.

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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