Financial Institutions (NASDAQ:FISI) Rating Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Financial Institutions (NASDAQ:FISI) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

Several other research analysts also recently weighed in on the company. ValuEngine upgraded Financial Institutions from a sell rating to a hold rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded Financial Institutions from a hold rating to a buy rating and set a $33.00 target price on the stock in a research note on Monday, August 12th.

Shares of FISI stock traded up $0.26 during midday trading on Tuesday, hitting $29.70. The company had a trading volume of 200 shares, compared to its average volume of 37,725. The company’s 50 day simple moving average is $29.76 and its 200 day simple moving average is $28.51. Financial Institutions has a 52-week low of $24.49 and a 52-week high of $31.82. The stock has a market cap of $474.40 million, a price-to-earnings ratio of 11.38 and a beta of 0.85. 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 (NASDAQ:FISI) last announced its earnings results on Monday, July 29th. The bank reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. Financial Institutions had a return on equity of 11.32% and a net margin of 20.30%. The company had revenue of $41.70 million for the quarter, compared to the consensus estimate of $41.30 million.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Friday, September 13th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.37%. Financial Institutions’s dividend payout ratio (DPR) is presently 38.91%.

Several institutional investors have recently bought and sold shares of the stock. Swiss National Bank boosted its stake in shares of Financial Institutions by 2.5% in the second quarter. Swiss National Bank now owns 28,200 shares of the bank’s stock valued at $822,000 after buying an additional 700 shares in the last quarter. United Services Automobile Association boosted its stake in shares of Financial Institutions by 4.1% in the second quarter. United Services Automobile Association now owns 35,741 shares of the bank’s stock valued at $1,042,000 after buying an additional 1,400 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Financial Institutions by 3.4% in the second quarter. Parametric Portfolio Associates LLC now owns 63,141 shares of the bank’s stock valued at $1,841,000 after buying an additional 2,088 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Financial Institutions by 28.9% in the second quarter. GSA Capital Partners LLP now owns 10,384 shares of the bank’s stock valued at $303,000 after buying an additional 2,330 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Financial Institutions by 382.1% in the first quarter. BNP Paribas Arbitrage SA now owns 3,206 shares of the bank’s stock valued at $87,000 after buying an additional 2,541 shares in the last quarter. Hedge funds and other institutional investors own 71.22% of the company’s stock.

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.

Featured Story: What is a Buy-Side Analyst?

Receive News & Ratings for Financial Institutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Financial Institutions and related companies with MarketBeat.com's FREE daily email newsletter.