Financial Institutions (NASDAQ:FISI) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Financial Institutions (NASDAQ:FISI) from a hold rating to a buy rating in a report published on Tuesday, BidAskClub reports.

Other research analysts have also issued research reports about the company. ValuEngine raised Financial Institutions from a sell rating to a hold rating in a research report on Wednesday, July 31st. Zacks Investment Research raised Financial Institutions from a hold rating to a buy rating and set a $33.00 price target for the company in a research report on Monday, August 12th.

FISI opened at $30.78 on Tuesday. The business has a 50 day simple moving average of $29.49 and a two-hundred day simple moving average of $28.45. The firm has a market capitalization of $492.33 million, a price-to-earnings ratio of 11.98 and a beta of 0.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. Financial Institutions has a one year low of $24.49 and a one year high of $32.80.



Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Monday, July 29th. The bank reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The business had revenue of $41.70 million during the quarter, compared to analyst estimates of $41.30 million. Financial Institutions had a return on equity of 11.32% and a net margin of 20.30%.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Friday, September 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Thursday, September 12th. Financial Institutions’s payout ratio is 38.91%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FISI. Dimensional Fund Advisors LP raised its position in Financial Institutions by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,338,252 shares of the bank’s stock valued at $34,393,000 after purchasing an additional 31,067 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Financial Institutions by 382.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,206 shares of the bank’s stock worth $87,000 after acquiring an additional 2,541 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Financial Institutions in the 1st quarter worth approximately $119,000. Victory Capital Management Inc. raised its position in shares of Financial Institutions by 10.5% in the 1st quarter. Victory Capital Management Inc. now owns 36,790 shares of the bank’s stock worth $1,000,000 after acquiring an additional 3,490 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in shares of Financial Institutions by 24.9% in the 1st quarter. Systematic Financial Management LP now owns 35,265 shares of the bank’s stock worth $959,000 after acquiring an additional 7,025 shares in the last quarter. 71.22% of the stock is owned by institutional investors and hedge funds.

About Financial Institutions

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.

Further Reading: What is the return on assets (ROA) ratio?

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