Brokerages Set $34.50 Price Target for Financial Institutions, Inc. (FISI)

Financial Institutions, Inc. (NASDAQ:FISI) has been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Brokers have set a 1 year consensus price objective of $34.50 for the company and are anticipating that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Financial Institutions an industry rank of 14 out of 265 based on the ratings given to related companies.

A number of research analysts have recently issued reports on FISI shares. ValuEngine cut shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 price objective on shares of Financial Institutions in a report on Friday, September 22nd. Piper Jaffray Companies reiterated a “hold” rating and set a $31.50 price objective on shares of Financial Institutions in a report on Wednesday, October 4th. Finally, BidaskClub cut shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th.

Financial Institutions (NASDAQ FISI) opened at $31.25 on Thursday. The stock has a market cap of $485.98, a PE ratio of 15.55 and a beta of 1.24. Financial Institutions has a twelve month low of $25.65 and a twelve month high of $35.40. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $37.01 million during the quarter. Financial Institutions had a net margin of 19.46% and a return on equity of 9.66%. sell-side analysts anticipate that Financial Institutions will post 1.94 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, December 14th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, December 13th. This is a boost from Financial Institutions’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.82%. Financial Institutions’s payout ratio is 43.78%.

In other news, Director Robert M. Glaser purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average cost of $32.34 per share, for a total transaction of $32,340.00. Following the completion of the acquisition, the director now owns 13,451 shares in the company, valued at $435,005.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph L. Dugan purchased 930 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were purchased at an average price of $32.15 per share, for a total transaction of $29,899.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 4,939 shares of company stock worth $158,934. 5.49% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Financial Institutions during the third quarter worth about $139,000. Brandywine Global Investment Management LLC raised its position in Financial Institutions by 17.4% in the second quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock worth $142,000 after acquiring an additional 702 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Financial Institutions in the second quarter worth about $216,000. Virtu KCG Holdings LLC bought a new stake in Financial Institutions in the second quarter worth about $219,000. Finally, Wells Fargo & Company MN raised its position in Financial Institutions by 1.7% in the second quarter. Wells Fargo & Company MN now owns 9,351 shares of the bank’s stock worth $279,000 after acquiring an additional 159 shares during the period. Institutional investors and hedge funds own 69.20% of the company’s stock.

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About Financial Institutions

Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.

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