Financial Institutions (NASDAQ:FISI) Coverage Initiated at Piper Sandler

Investment analysts at Piper Sandler initiated coverage on shares of Financial Institutions (NASDAQ:FISI) in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $33.00 price target on the bank’s stock. Piper Sandler’s price objective points to a potential upside of 23.83% from the company’s current price.

Other research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods raised their target price on Financial Institutions from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Wednesday.

Financial Institutions Stock Performance

Shares of FISI opened at $26.65 on Friday. The company has a market cap of $412.38 million, a price-to-earnings ratio of 8.38 and a beta of 0.92. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. Financial Institutions has a 12 month low of $16.29 and a 12 month high of $29.34. The business’s fifty day simple moving average is $26.48 and its two-hundred day simple moving average is $23.94.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $50.12 million for the quarter. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. During the same quarter last year, the company earned $0.88 EPS. Research analysts anticipate that Financial Institutions will post 3.66 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert N. Latella bought 4,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were bought at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the purchase, the director now owns 16,000 shares in the company, valued at approximately $400,000. The trade was a 33.33 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Financial Institutions in the 2nd quarter worth $25,000. US Bancorp DE grew its position in shares of Financial Institutions by 119.3% during the third quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock worth $66,000 after purchasing an additional 1,399 shares in the last quarter. SG Americas Securities LLC bought a new stake in Financial Institutions during the 3rd quarter valued at approximately $164,000. CWM LLC lifted its holdings in Financial Institutions by 50.3% in the 3rd quarter. CWM LLC now owns 8,172 shares of the bank’s stock worth $208,000 after purchasing an additional 2,734 shares in the last quarter. Finally, Stonebrook Private Inc. bought a new position in Financial Institutions in the 3rd quarter worth approximately $218,000. Hedge funds and other institutional investors own 60.45% of the company’s stock.

Financial Institutions Company Profile

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.