Financial Institutions (NASDAQ:FISI) Downgraded to “Sell” Rating by StockNews.com

Financial Institutions (NASDAQ:FISI) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Several other research analysts have also commented on the company. Keefe, Bruyette & Woods upgraded Financial Institutions from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $29.00 to $34.00 in a research report on Monday. Piper Sandler began coverage on Financial Institutions in a report on Friday, December 20th. They set an “overweight” rating and a $33.00 target price for the company. Finally, Stephens reaffirmed an “equal weight” rating and set a $33.00 price objective on shares of Financial Institutions in a research report on Friday.

Financial Institutions Trading Up 1.3 %

Financial Institutions stock traded up $0.35 during mid-day trading on Monday, hitting $26.72. The company’s stock had a trading volume of 233,411 shares, compared to its average volume of 149,396. The firm has a market capitalization of $413.36 million, a PE ratio of -18.43 and a beta of 0.90. 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 1 year low of $16.29 and a 1 year high of $29.34. The stock’s fifty day moving average is $27.07 and its two-hundred day moving average is $25.83.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Financial Institutions will post 3.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert N. Latella acquired 4,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $25.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director now directly owns 16,000 shares in the company, valued at approximately $400,000. This represents a 33.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Financial Institutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new stake in Financial Institutions during the second quarter worth about $466,000. AQR Capital Management LLC boosted its position in Financial Institutions by 147.3% during the 2nd quarter. AQR Capital Management LLC now owns 63,213 shares of the bank’s stock worth $1,221,000 after acquiring an additional 37,653 shares during the period. SG Americas Securities LLC bought a new stake in Financial Institutions in the third quarter worth approximately $164,000. CWM LLC grew its position in shares of Financial Institutions by 50.3% in the third quarter. CWM LLC now owns 8,172 shares of the bank’s stock valued at $208,000 after purchasing an additional 2,734 shares during the last quarter. Finally, Courier Capital LLC raised its holdings in Financial Institutions by 2.4% in the 3rd quarter. Courier Capital LLC now owns 350,239 shares of the bank’s stock valued at $8,921,000 after acquiring an additional 8,064 shares in the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.

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.