ValuEngine Upgrades Financial Institutions (FISI) to Buy

Financial Institutions (NASDAQ:FISI) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Wednesday.

FISI has been the subject of several other research reports. Keefe, Bruyette & Woods cut Financial Institutions to a “market perform” rating and set a $35.00 price target for the company. in a report on Thursday, March 15th. BidaskClub cut Financial Institutions from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Hovde Group reaffirmed a “buy” rating and issued a $36.00 price target on shares of Financial Institutions in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Financial Institutions currently has an average rating of “Hold” and a consensus price target of $34.17.

NASDAQ:FISI opened at $31.00 on Wednesday. Financial Institutions has a one year low of $25.65 and a one year 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 company has a market capitalization of $490.65, a P/E ratio of 15.98 and a beta of 1.15.

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

In related news, Director Andrew W. Dorn, Jr. purchased 1,557 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $30.95 per share, with a total value 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 document filed with the SEC, which is available at this hyperlink. 5.49% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of FISI. Bailard Inc. purchased a new position in Financial Institutions in the fourth quarter worth approximately $2,239,000. Dimensional Fund Advisors LP grew its position in Financial Institutions by 6.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,034,254 shares of the bank’s stock worth $29,786,000 after acquiring an additional 66,983 shares during the period. American Century Companies Inc. grew its position in Financial Institutions by 536.0% in the fourth quarter. American Century Companies Inc. now owns 71,497 shares of the bank’s stock worth $2,224,000 after acquiring an additional 60,256 shares during the period. Maltese Capital Management LLC grew its position in Financial Institutions by 231.8% in the fourth quarter. Maltese Capital Management LLC now owns 70,000 shares of the bank’s stock worth $2,177,000 after acquiring an additional 48,900 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in Financial Institutions by 28.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 164,138 shares of the bank’s stock worth $5,105,000 after acquiring an additional 36,271 shares during the period. Institutional investors own 69.75% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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