Piper Sandler Reiterates Neutral Rating for Financial Institutions (NASDAQ:FISI)

Piper Sandler reiterated their neutral rating on shares of Financial Institutions (NASDAQ:FISI) in a research note released on Monday, Marketbeat.com reports. Piper Sandler currently has a $19.00 price target on the bank’s stock, down from their prior price target of $23.00.

Separately, TheStreet upgraded Financial Institutions from a c+ rating to a b- rating in a research note on Thursday, December 28th.

Financial Institutions Trading Up 1.0 %

Shares of NASDAQ:FISI opened at $18.82 on Monday. Financial Institutions has a 52-week low of $13.84 and a 52-week high of $23.11. The stock has a market cap of $290.02 million, a price-to-earnings ratio of 5.96 and a beta of 0.86. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $19.36 and a 200-day moving average price of $18.66.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.12). Financial Institutions had a return on equity of 12.24% and a net margin of 15.03%. The firm had revenue of $55.25 million during the quarter, compared to analysts’ expectations of $50.29 million. Equities analysts predict that Financial Institutions will post 2.71 EPS for the current year.

Financial Institutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Friday, March 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.38%. The ex-dividend date is Thursday, March 14th. Financial Institutions’s dividend payout ratio (DPR) is 37.97%.

Institutional Trading of Financial Institutions

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can grew its holdings in Financial Institutions by 177.3% during the first quarter. Great West Life Assurance Co. Can now owns 857 shares of the bank’s stock worth $26,000 after acquiring an additional 548 shares during the period. Captrust Financial Advisors grew its holdings in Financial Institutions by 107.1% in the second quarter. Captrust Financial Advisors now owns 1,073 shares of the bank’s stock valued at $28,000 after purchasing an additional 555 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Financial Institutions by 0.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 182,221 shares of the bank’s stock worth $5,490,000 after acquiring an additional 573 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Financial Institutions by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 117,941 shares of the bank’s stock worth $1,856,000 after acquiring an additional 602 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Financial Institutions by 2.7% in the second quarter. Rhumbline Advisers now owns 23,846 shares of the bank’s stock worth $620,000 after acquiring an additional 633 shares during the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.

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 offers 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.