Financial Institutions’ (FISI) “Market Perform” Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Financial Institutions (NASDAQ:FISI) in a research note published on Monday morning, Benzinga reports. The firm currently has a $25.00 target price on the bank’s stock, up from their previous target price of $20.00.

Financial Institutions Stock Performance

Shares of FISI opened at $25.13 on Monday. Financial Institutions has a 12 month low of $15.22 and a 12 month high of $27.75. The stock has a fifty day moving average price of $19.76 and a 200-day moving average price of $19.13. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29. The firm has a market cap of $388.18 million, a PE ratio of 10.01 and a beta of 0.91.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.62 EPS for the quarter, beating the consensus estimate of $0.70 by $0.92. Financial Institutions had a return on equity of 12.29% and a net margin of 13.95%. The firm had revenue of $102.80 million during the quarter. During the same quarter in the prior year, the company posted $0.91 EPS. Equities research analysts predict that Financial Institutions will post 3.02 earnings per share for the current fiscal year.

Financial Institutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Friday, June 14th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, June 14th. This represents a $1.20 annualized dividend and a dividend yield of 4.78%. Financial Institutions’s dividend payout ratio is presently 47.81%.

Hedge Funds Weigh In On Financial Institutions

Hedge funds have recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Financial Institutions in the 2nd quarter valued at $25,000. CWM LLC increased its position in shares of Financial Institutions by 193.3% in the 4th quarter. CWM LLC now owns 1,566 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,032 shares during the period. AJOVista LLC acquired a new position in shares of Financial Institutions in the 4th quarter valued at $66,000. Lazard Asset Management LLC acquired a new position in shares of Financial Institutions in the 1st quarter valued at $98,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Financial Institutions by 181.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,069 shares of the bank’s stock valued at $172,000 after acquiring an additional 5,198 shares during the period. 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 provides 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.