Financial Institutions (NASDAQ:FISI) Upgraded at BidaskClub

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BidaskClub upgraded shares of Financial Institutions (NASDAQ:FISI) from a hold rating to a buy rating in a research note issued to investors on Saturday morning, BidAskClub reports.

Separately, ValuEngine upgraded Financial Institutions from a sell rating to a hold rating in a report on Wednesday, July 31st.

FISI opened at $29.03 on Friday. Financial Institutions has a one year low of $24.49 and a one year high of $33.35. The firm has a market capitalization of $477.61 million, a PE ratio of 11.23 and a beta of 0.87. The firm has a 50 day simple moving average of $28.48. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.10.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Monday, July 29th. The bank reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Financial Institutions had a return on equity of 11.50% and a net margin of 20.30%. The firm had revenue of $41.70 million for the quarter, compared to analysts’ expectations of $41.30 million. As a group, equities analysts predict that Financial Institutions will post 2.76 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in Financial Institutions by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,338,252 shares of the bank’s stock valued at $34,393,000 after acquiring an additional 31,067 shares during the last quarter. BlackRock Inc. raised its position in Financial Institutions by 1.0% in the fourth quarter. BlackRock Inc. now owns 1,238,775 shares of the bank’s stock valued at $31,835,000 after purchasing an additional 12,870 shares during the period. Royce & Associates LP raised its position in Financial Institutions by 28.0% in the first quarter. Royce & Associates LP now owns 486,725 shares of the bank’s stock valued at $13,229,000 after purchasing an additional 106,558 shares during the period. Geode Capital Management LLC raised its position in Financial Institutions by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 193,025 shares of the bank’s stock valued at $4,960,000 after purchasing an additional 13,255 shares during the period. Finally, Martingale Asset Management L P raised its position in Financial Institutions by 11.3% in the first quarter. Martingale Asset Management L P now owns 134,344 shares of the bank’s stock valued at $3,653,000 after purchasing an additional 13,600 shares during the period. Hedge funds and other institutional investors own 70.84% 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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