Financial Institutions (NASDAQ:FISI) Receives “Market Perform” Rating from Keefe, Bruyette & Woods

Financial Institutions (NASDAQ:FISI)‘s stock had its “market perform” rating reiterated by stock analysts at Keefe, Bruyette & Woods in a report released on Monday, Benzinga reports. They presently have a $25.00 price target on the bank’s stock, up from their prior price target of $20.00. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 0.68% from the company’s previous close.

Financial Institutions Trading Down 2.4 %

Financial Institutions stock traded down $0.63 during trading hours on Monday, reaching $25.17. The stock had a trading volume of 24,940 shares, compared to its average volume of 52,482. Financial Institutions has a 52 week low of $15.22 and a 52 week high of $25.83. The stock has a market cap of $388.88 million, a PE ratio of 10.03 and a beta of 0.90. The company has a fifty day simple moving average of $19.16 and a 200-day simple moving average of $18.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.84 and a quick ratio of 0.84.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.92. Financial Institutions had a net margin of 13.95% and a return on equity of 12.29%. The company had revenue of $102.80 million during the quarter. During the same period last year, the business earned $0.91 earnings per share. Analysts forecast that Financial Institutions will post 3.02 EPS for the current fiscal year.

Institutional Trading of Financial Institutions

Large investors have recently made changes to their positions in the stock. CWM LLC grew its stake in shares of Financial Institutions by 193.3% in the fourth quarter. CWM LLC now owns 1,566 shares of the bank’s stock worth $33,000 after acquiring an additional 1,032 shares during the period. AJOVista LLC bought a new stake in Financial Institutions during the fourth quarter valued at approximately $66,000. Lazard Asset Management LLC bought a new stake in Financial Institutions during the first quarter valued at approximately $98,000. Allspring Global Investments Holdings LLC lifted its holdings in Financial Institutions by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock valued at $166,000 after purchasing an additional 742 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Financial Institutions by 28.0% during the fourth quarter. SG Americas Securities LLC now owns 8,299 shares of the bank’s stock valued at $177,000 after purchasing an additional 1,817 shares in the last quarter. 60.45% of the stock is currently owned by institutional investors.

About Financial Institutions

Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.