Financial Institutions, Inc. (NASDAQ:FISI) Given Consensus Rating of “Hold” by Brokerages

Shares of Financial Institutions, Inc. (NASDAQ:FISI) have received an average rating of “Hold” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $35.3333.

Several analysts have commented on FISI shares. Keefe, Bruyette & Woods lifted their price objective on shares of Financial Institutions from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Zacks Research upgraded shares of Financial Institutions to a “hold” rating in a research report on Thursday, December 18th. Piper Sandler reaffirmed a “neutral” rating and issued a $36.00 price target (up from $34.00) on shares of Financial Institutions in a report on Monday, February 2nd. Wall Street Zen cut Financial Institutions from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Financial Institutions in a research note on Monday, December 29th.

Financial Institutions Trading Down 1.0%

Shares of NASDAQ:FISI opened at $34.07 on Friday. The business’s 50-day moving average is $32.40 and its 200 day moving average is $29.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.87 and a quick ratio of 0.87. Financial Institutions has a 1 year low of $20.97 and a 1 year high of $35.47. The firm has a market capitalization of $685.83 million, a P/E ratio of 9.44 and a beta of 0.70.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Thursday, January 29th. The bank reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $64.12 million for the quarter, compared to analyst estimates of $62.99 million. Financial Institutions had a net margin of 19.81% and a return on equity of 12.75%. On average, research analysts predict that Financial Institutions will post 3.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Financial Institutions

Several institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Financial Institutions by 3.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,011 shares of the bank’s stock worth $301,000 after buying an additional 363 shares in the last quarter. Comerica Bank raised its position in shares of Financial Institutions by 39.8% in the third quarter. Comerica Bank now owns 1,647 shares of the bank’s stock worth $45,000 after acquiring an additional 469 shares during the period. Palisades Investment Partners LLC boosted its stake in shares of Financial Institutions by 0.4% during the 3rd quarter. Palisades Investment Partners LLC now owns 137,522 shares of the bank’s stock worth $3,780,000 after acquiring an additional 606 shares in the last quarter. Creative Planning grew its position in shares of Financial Institutions by 5.0% during the 3rd quarter. Creative Planning now owns 17,922 shares of the bank’s stock valued at $487,000 after acquiring an additional 850 shares during the period. Finally, Cutler Capital Management LLC grew its position in shares of Financial Institutions by 1.9% during the 2nd quarter. Cutler Capital Management LLC now owns 47,925 shares of the bank’s stock valued at $1,231,000 after acquiring an additional 900 shares during the period. 60.45% of the stock is owned by hedge funds and other institutional investors.

Financial Institutions Company Profile

Financial Institutions, Inc (NASDAQ: FISI) is a non-diversified, closed-end management investment company that seeks to provide tax-advantaged income to shareholders. The company invests primarily in investment-grade municipal obligations issued by states, municipalities and government agencies across the United States. By focusing on high-credit-quality bonds, Financial Institutions aims to deliver current income that is exempt from federal income tax.

In constructing its portfolio, the company may also utilize money market instruments and repurchase agreements to manage liquidity and facilitate efficient settlement.