Shares of Financial Institutions Inc. (NASDAQ:FISI) have been assigned an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating.
Analysts have set a 12 month consensus target price of $26.50 for the company and are anticipating that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Financial Institutions an industry rank of 85 out of 265 based on the ratings given to related companies.
Separately, Keefe, Bruyette & Woods boosted their price objective on Financial Institutions from $26.00 to $27.00 and gave the company a “market perform” rating in a report on Thursday, July 28th.
Shares of Financial Institutions (NASDAQ:FISI) opened at 27.02 on Wednesday. The firm has a market capitalization of $390.55 million, a PE ratio of 13.72 and a beta of 1.08. The stock has a 50 day moving average price of $26.76 and a 200 day moving average price of $27.28. Financial Institutions has a 12-month low of $24.05 and a 12-month high of $29.53.
Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Financial Institutions had a net margin of 20.63% and a return on equity of 10.28%. Analysts predict that Financial Institutions will post $1.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, September 8th. Financial Institutions’s dividend payout ratio (DPR) is presently 40.61%.
In related news, CEO Martin Kearney Birmingham bought 5,000 shares of the stock in a transaction dated Wednesday, August 17th. The stock was bought at an average cost of $26.64 per share, with a total value of $133,200.00. Following the completion of the acquisition, the chief executive officer now owns 85,632 shares of the company’s stock, valued at $2,281,236.48. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew W. Dorn, Jr. bought 1,000 shares of the stock in a transaction dated Friday, July 29th. The shares were bought at an average cost of $27.11 per share, with a total value of $27,110.00. Following the completion of the acquisition, the director now directly owns 12,205 shares of the company’s stock, valued at approximately $330,877.55. The disclosure for this purchase can be found here. Insiders own 6.23% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. IFC Holdings Incorporated FL raised its position in Financial Institutions by 0.7% in the second quarter. IFC Holdings Incorporated FL now owns 9,150 shares of the company’s stock valued at $234,000 after buying an additional 62 shares during the period. Bank of New York Mellon Corp raised its position in Financial Institutions by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 91,804 shares of the company’s stock valued at $2,393,000 after buying an additional 4,018 shares during the period. ClariVest Asset Management LLC raised its position in Financial Institutions by 4.5% in the second quarter. ClariVest Asset Management LLC now owns 11,700 shares of the company’s stock valued at $305,000 after buying an additional 500 shares during the period. Strs Ohio raised its position in Financial Institutions by 8.1% in the second quarter. Strs Ohio now owns 17,400 shares of the company’s stock valued at $453,000 after buying an additional 1,300 shares during the period. Finally, Bank of Montreal Can bought a new position in Financial Institutions during the second quarter valued at approximately $208,000. 59.30% of the stock is owned by institutional investors.
Financial Institutions Company Profile
Financial Institutions, Inc (FII) is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank, and Scott Danahy Naylon, LLC (SDN), a full service insurance agency. The Company offers an array of deposit, lending, insurance services and other financial services to individuals, municipalities and businesses in Western and Central New York through the Bank.
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