Financial Institutions (NASDAQ:FISI) Rating Increased to Buy at Wall Street Zen

Financial Institutions (NASDAQ:FISI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday.

Separately, Stephens reaffirmed an "equal weight" rating and issued a $32.00 price objective on shares of Financial Institutions in a report on Tuesday, March 11th.

Financial Institutions Stock Performance

NASDAQ:FISI traded up $0.63 during trading hours on Friday, hitting $25.80. 62,522 shares of the company were exchanged, compared to its average volume of 105,964. The stock has a market capitalization of $518.84 million, a price-to-earnings ratio of -17.79 and a beta of 0.72. Financial Institutions has a 52-week low of $16.81 and a 52-week high of $29.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The company's 50 day moving average price is $24.67 and its 200-day moving average price is $26.26.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The bank reported $0.81 EPS for the quarter, beating the consensus estimate of $0.74 by $0.07. The business had revenue of $57.24 million for the quarter, compared to the consensus estimate of $57.14 million. Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. As a group, research analysts forecast that Financial Institutions will post 3.3 earnings per share for the current year.

Institutional Investors Weigh In On Financial Institutions

Hedge funds have recently modified their holdings of the company. Picton Mahoney Asset Management grew its holdings in shares of Financial Institutions by 45.5% in the fourth quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock valued at $32,000 after purchasing an additional 374 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Financial Institutions in the fourth quarter valued at about $87,000. SG Americas Securities LLC grew its holdings in shares of Financial Institutions by 14.9% in the fourth quarter. SG Americas Securities LLC now owns 7,418 shares of the bank's stock valued at $202,000 after purchasing an additional 964 shares during the period. Jump Financial LLC purchased a new stake in shares of Financial Institutions in the first quarter valued at about $205,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Financial Institutions by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,716 shares of the bank's stock valued at $238,000 after purchasing an additional 380 shares during the period. Hedge funds and other institutional investors own 60.45% of the company's stock.

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.

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