Financial Institutions (NASDAQ:FISI) Rating Lowered to Hold at Wall Street Zen

Wall Street Zen cut shares of Financial Institutions (NASDAQ:FISI - Free Report) from a buy rating to a hold rating in a research note released on Saturday.

FISI has been the subject of a number of other research reports. Stephens reiterated an "equal weight" rating and set a $32.00 target price on shares of Financial Institutions in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods raised shares of Financial Institutions from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $29.00 to $34.00 in a report on Monday, February 3rd.

Financial Institutions Stock Performance

Shares of Financial Institutions stock traded down $0.20 on Friday, reaching $25.38. 84,649 shares of the company traded hands, compared to its average volume of 104,776. 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 has a 50 day moving average of $24.64 and a 200 day moving average of $26.33. The firm has a market capitalization of $510.39 million, a PE ratio of -17.50 and a beta of 0.70.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FISI. R Squared Ltd purchased a new stake in shares of Financial Institutions in the fourth quarter worth about $30,000. Picton Mahoney Asset Management grew its stake in Financial Institutions by 45.5% during the fourth quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock valued at $32,000 after acquiring an additional 374 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Financial Institutions during the 4th quarter worth approximately $87,000. SG Americas Securities LLC lifted its stake in Financial Institutions by 14.9% in the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank's stock worth $202,000 after purchasing an additional 964 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Financial Institutions in the 1st quarter worth approximately $205,000. 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.