Keefe, Bruyette & Woods Lowers Financial Institutions (NASDAQ:FISI) Price Target to $22.00

Financial Institutions (NASDAQ:FISI) had its price target reduced by investment analysts at Keefe, Bruyette & Woods from $24.00 to $22.00 in a research note issued on Friday, AnalystRatings.com reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 48.95% from the company’s current price.

Several other analysts have also commented on FISI. ValuEngine raised Financial Institutions from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. BidaskClub lowered Financial Institutions from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. Zacks Investment Research raised Financial Institutions from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. Finally, Sidoti assumed coverage on Financial Institutions in a research note on Friday. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Financial Institutions presently has a consensus rating of “Hold” and a consensus target price of $27.50.

FISI stock traded down $0.26 during trading on Friday, hitting $14.77. The company had a trading volume of 123,193 shares, compared to its average volume of 48,094. The company has a fifty day moving average price of $16.86 and a two-hundred day moving average price of $20.96. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a market cap of $236.60 million, a P/E ratio of 6.45 and a beta of 1.10. Financial Institutions has a fifty-two week low of $12.78 and a fifty-two week high of $33.28.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Wednesday, July 29th. The bank reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.40. The business had revenue of $44.01 million for the quarter, compared to analyst estimates of $42.72 million. Financial Institutions had a return on equity of 9.02% and a net margin of 18.20%. On average, analysts expect that Financial Institutions will post 1.51 earnings per share for the current year.

In other news, CEO Martin Kearney Birmingham purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average price of $18.83 per share, with a total value of $94,150.00. Following the completion of the purchase, the chief executive officer now directly owns 88,206 shares of the company’s stock, valued at approximately $1,660,918.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Samuel J. Burruano, Jr. purchased 1,500 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were purchased at an average cost of $19.56 per share, for a total transaction of $29,340.00. Following the purchase, the senior vice president now directly owns 2,413 shares of the company’s stock, valued at $47,198.28. The disclosure for this purchase can be found here. In the last three months, insiders acquired 10,058 shares of company stock worth $185,142. Insiders own 4.03% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FISI. Canandaigua National Corp acquired a new position in shares of Financial Institutions during the second quarter valued at $7,352,000. BlackRock Inc. lifted its stake in shares of Financial Institutions by 3.3% during the first quarter. BlackRock Inc. now owns 1,297,537 shares of the bank’s stock valued at $23,536,000 after acquiring an additional 41,281 shares during the period. Matarin Capital Management LLC acquired a new position in shares of Financial Institutions during the first quarter valued at $735,000. Acadian Asset Management LLC lifted its stake in shares of Financial Institutions by 49.0% during the first quarter. Acadian Asset Management LLC now owns 81,083 shares of the bank’s stock valued at $1,467,000 after acquiring an additional 26,652 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Financial Institutions by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 248,456 shares of the bank’s stock valued at $7,975,000 after acquiring an additional 22,831 shares during the period. 70.27% of the stock is currently owned by institutional investors and hedge funds.

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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