Keefe, Bruyette & Woods Issues Positive Forecast for Financial Institutions (NASDAQ:FISI) Stock Price

Financial Institutions (NASDAQ:FISI) had its price target raised by analysts at Keefe, Bruyette & Woods from $27.00 to $28.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 4.79% from the company’s current price.

Separately, StockNews.com lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Financial Institutions Stock Performance

Financial Institutions stock traded up $0.01 during mid-day trading on Wednesday, reaching $26.72. 7,318 shares of the company traded hands, compared to its average volume of 50,241. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s fifty day moving average is $25.84 and its two-hundred day moving average is $23.22. Financial Institutions has a fifty-two week low of $16.29 and a fifty-two week high of $29.14. The company has a market capitalization of $413.36 million, a price-to-earnings ratio of 8.40 and a beta of 0.92.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $50.12 million during the quarter. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, equities research analysts expect that Financial Institutions will post 3.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Financial Institutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in Financial Institutions during the second quarter worth approximately $25,000. US Bancorp DE lifted its position in Financial Institutions by 119.3% in the third quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock valued at $66,000 after purchasing an additional 1,399 shares during the period. CWM LLC grew its holdings in Financial Institutions by 150.4% during the second quarter. CWM LLC now owns 5,438 shares of the bank’s stock worth $105,000 after acquiring an additional 3,266 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Financial Institutions in the third quarter valued at about $164,000. Finally, Stonebrook Private Inc. acquired a new stake in shares of Financial Institutions in the 3rd quarter worth approximately $218,000. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Financial Institutions Company Profile

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.