Keefe, Bruyette & Woods Upgrades Financial Institutions (NASDAQ:FISI) to Outperform

Financial Institutions (NASDAQ:FISI) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report issued on Monday,Benzinga reports. The brokerage presently has a $34.00 price target on the bank’s stock, up from their previous price target of $29.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 28.93% from the company’s current price.

Several other research firms also recently commented on FISI. Piper Sandler assumed coverage on shares of Financial Institutions in a report on Friday, December 20th. They set an “overweight” rating and a $33.00 price objective on the stock. Stephens reissued an “equal weight” rating and issued a $33.00 price target on shares of Financial Institutions in a report on Friday. Finally, StockNews.com downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Financial Institutions Price Performance

FISI opened at $26.37 on Monday. The firm has a market cap of $407.94 million, a P/E ratio of -18.19 and a beta of 0.90. The firm has a 50-day moving average of $27.07 and a 200 day moving average of $25.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. Financial Institutions has a fifty-two week low of $16.29 and a fifty-two week high of $29.34.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.20). Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. On average, research analysts expect that Financial Institutions will post 3.39 EPS for the current year.

Insider Buying and Selling at Financial Institutions

In other Financial Institutions news, Director Robert N. Latella purchased 4,000 shares of Financial Institutions stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $400,000. The trade was a 33.33 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Financial Institutions in the fourth quarter worth approximately $30,000. US Bancorp DE grew its holdings in shares of Financial Institutions by 119.3% in 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 during the last quarter. SG Americas Securities LLC bought a new position in shares of Financial Institutions in the third quarter worth approximately $164,000. CWM LLC grew its holdings in shares of Financial Institutions by 50.3% in the third quarter. CWM LLC now owns 8,172 shares of the bank’s stock worth $208,000 after purchasing an additional 2,734 shares during the last quarter. Finally, Stonebrook Private Inc. bought a new position in shares of Financial Institutions in the third quarter worth approximately $218,000. 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.