Financial Institutions Inc. (NASDAQ:FISI) has been assigned a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.
Analysts have set a 1 year consensus price objective of $26.50 for the company and are forecasting 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 102 out of 265 based on the ratings given to its competitors.
Separately, Keefe, Bruyette & Woods upped their target price on shares of Financial Institutions from $26.00 to $27.00 and gave the company a “market perform” rating in a report on Thursday, July 28th.
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Financial Institutions (NASDAQ:FISI) traded down 0.37% on Wednesday, reaching $26.72. 6,357 shares of the company were exchanged. Financial Institutions has a 12-month low of $24.05 and a 12-month high of $29.53. The firm has a 50-day moving average of $26.73 and a 200 day moving average of $27.29. The firm has a market capitalization of $386.21 million, a P/E ratio of 13.56 and a beta of 1.08.
Financial Institutions (NASDAQ:FISI) last announced its earnings results on Tuesday, July 26th. The company reported $0.47 EPS for the quarter, missing the Zacks’ 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%. On average, equities analysts predict that Financial Institutions will post $1.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be paid a $0.20 dividend. The ex-dividend date is Thursday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.98%. Financial Institutions’s dividend payout ratio (DPR) is presently 40.61%.
In related news, Director Andrew W. Dorn, Jr. bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was bought at an average cost of $27.11 per share, with a total value of $27,110.00. Following the completion of the purchase, the director now owns 12,205 shares of the company’s stock, valued at approximately $330,877.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William L. Kreienberg bought 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were bought at an average cost of $26.43 per share, with a total value of $79,290.00. Following the completion of the purchase, the chief accounting officer now directly owns 4,485 shares of the company’s stock, valued at approximately $118,538.55. The disclosure for this purchase can be found here. 6.23% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of FISI. Wellington Management Group LLP boosted its position in Financial Institutions by 3.3% in the first quarter. Wellington Management Group LLP now owns 1,090,228 shares of the company’s stock valued at $31,693,000 after buying an additional 34,907 shares during the last quarter. Clover Partners L.P. boosted its position in Financial Institutions by 5.6% in the first quarter. Clover Partners L.P. now owns 795,799 shares of the company’s stock valued at $23,134,000 after buying an additional 42,442 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Financial Institutions by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 795,340 shares of the company’s stock valued at $20,734,000 after buying an additional 33,267 shares during the last quarter. Canandaigua National Bank & Trust Co. boosted its position in Financial Institutions by 1.6% in the first quarter. Canandaigua National Bank & Trust Co. now owns 559,553 shares of the company’s stock valued at $16,266,000 after buying an additional 8,969 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Financial Institutions by 3.7% in the second quarter. Vanguard Group Inc. now owns 518,280 shares of the company’s stock valued at $13,512,000 after buying an additional 18,490 shares during the last quarter. 59.30% of the stock is owned by institutional investors.
About Financial Institutions
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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