Financial Institutions (NASDAQ:FISI) Stock Crosses Below 50 Day Moving Average – What’s Next?

Financial Institutions, Inc. (NASDAQ:FISI) shares crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $40.02 and traded as low as $39.68. Financial Institutions shares last traded at $39.97, with a volume of 134,353 shares traded.

Wall Street Analysts Forecast Growth

FISI has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Financial Institutions in a report on Friday, October 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Financial Institutions in a research note on Monday, November 2nd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 target price (up from $38.00) on shares of Financial Institutions in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.00.

Financial Institutions Stock Performance

The stock has a market cap of $787.81 million, a P/E ratio of 9.92 and a beta of 0.62. The firm’s 50-day moving average is $40.02 and its two-hundred day moving average is $36.98. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data on Thursday, October 29th. The bank reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.06). The business had revenue of $64.75 million during the quarter, compared to the consensus estimate of $66.55 million. Financial Institutions had a return on equity of 13.31% and a net margin of 21.71%. As a group, research analysts expect that Financial Institutions, Inc. will post 4.21 EPS for the current year.

Financial Institutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, September 15th. Financial Institutions’s dividend payout ratio is 31.76%.

Institutional Investors Weigh In On Financial Institutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its position in shares of Financial Institutions by 0.5% during the third quarter. Commonwealth Equity Services LLC now owns 58,003 shares of the bank’s stock valued at $2,261,000 after purchasing an additional 282 shares during the period. Allworth Financial LP boosted its stake in Financial Institutions by 10.0% during the second quarter. Allworth Financial LP now owns 3,251 shares of the bank’s stock worth $127,000 after buying an additional 296 shares in the last quarter. Royal Bank of Canada increased its holdings in Financial Institutions by 31.6% in the 1st quarter. Royal Bank of Canada now owns 1,290 shares of the bank’s stock valued at $40,000 after buying an additional 310 shares during the period. Ieq Capital LLC increased its holdings in Financial Institutions by 5.9% in the 3rd quarter. Ieq Capital LLC now owns 11,796 shares of the bank’s stock valued at $460,000 after buying an additional 652 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in shares of Financial Institutions in the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 60.45% of the company’s stock.

Financial Institutions Company Profile

Financial Institutions, Inc. is a financial holding company that provides banking and related financial services through its subsidiaries, including Five Star Bank. Its offerings serve both individuals and businesses. Five Star Bank provides deposit accounts, lending, mortgage and other banking services. The company also offers wealth management services through its subsidiary, Courier Capital, LLC. Based in Warsaw, New York, Financial Institutions primarily serves communities in western and central New York through Five Star Bank’s branch network and other service channels.