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

Keefe, Bruyette & Woods reiterated its market perform rating for shares of Financial Institutions (NASDAQ:FISI – Free Report) In a report published Monday, Benzinga reports. Keefe, Bruyette & Woods currently has a $25.00 price target on the bank’s stock, up from its previous price target of $20.00.

Financial institutions trading 3.4% lower

Shares of FISI opened at $24.91 on Monday. The company’s 50-day moving average price is $19.29 and its 200-day moving average price is $18.99. The stock has a market cap of $384.86 million, a price/earnings ratio of 9.92 and a beta of 0.90. Financial Institutions has a 1-year low of $15.22 and a 1-year high of $25.83. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29.

Financial Institutions (NASDAQ:FISI – Get Free Report) last announced its quarterly earnings results on Thursday, July 25. The bank reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.92. Financial Institutions had a return on equity of 12.29% and a net margin of 13.95%. The company had revenue of $102.80 million during the quarter. During the same quarter a year ago, the company had $0.91 EPS. Analysts expect Financial Institutions to post 3.02 EPS for the current year.

Financial institutions announce dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Friday, June 14th were paid a dividend of $0.30 per share. The ex-dividend date for this dividend was Friday, June 14th. This represents an annualized dividend of $1.20 and a yield of 4.82%. The payout ratio for Financial Institutions is currently 47.81%.

Institutional investors weigh financial institutions

Institutional investors have been buying and selling shares of the company recently. SG Americas Securities LLC increased its position in financial institutions by 28.0% in the 4th quarter. SG Americas Securities LLC now owns 8,299 shares of the bank worth $177,000 after acquiring an additional 1,817 shares during the period. CWM LLC increased its holdings in financial institutions by 193.3% in the 4th quarter. CWM LLC now owns 1,566 shares of the bank worth $33,000 after purchasing an additional 1,032 shares during the last quarter. AJOVista LLC acquired a new stake in shares of financial institutions during the 4th quarter worth approximately $66,000. Empowered Funds LLC increased its holdings in shares of financial institutions by 8.1% in the 1st quarter. Empowered Funds LLC now owns 58,600 shares of the bank’s stock worth $1,103,000 after buying an additional 4,375 shares in the last quarter. Finally, Quadrature Capital Ltd increased its holdings in financial institutions by 35.6% in the fourth quarter. Quadrature Capital Ltd now owns 31,260 shares of the bank’s stock worth $666,000 after buying an additional 8,206 shares in the last quarter. 60.45% of the shares are currently held by institutional investors and hedge funds.

Company Profile of Financial Institutions

(Get free report)

Financial Institutions, Inc. operates as a holding company for 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.

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