Wall Street Zen Downgrades Financial Institutions (NASDAQ:FISI) to Hold

Financial Institutions (NASDAQ:FISI - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Separately, Stephens restated an "equal weight" rating and set a $32.00 target price on shares of Financial Institutions in a research report on Tuesday, March 11th.

Financial Institutions Stock Performance

NASDAQ:FISI traded up $0.05 during trading hours on Friday, reaching $24.60. The company had a trading volume of 420,297 shares, compared to its average volume of 109,817. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.86 and a quick ratio of 0.86. Financial Institutions has a 1-year low of $17.34 and a 1-year high of $29.79. The business's 50 day moving average price is $25.22 and its 200-day moving average price is $26.12. The firm has a market cap of $494.71 million, a PE ratio of -32.80 and a beta of 0.72.

Financial Institutions (NASDAQ:FISI - Get Free Report) last posted its earnings results on Monday, April 28th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.07. The firm had revenue of $57.24 million during the quarter, compared to analysts' expectations of $57.14 million. Financial Institutions had a negative net margin of 2.63% and a positive return on equity of 12.69%. Research analysts forecast that Financial Institutions will post 3.3 EPS for the current year.

Institutional Investors Weigh In On Financial Institutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in FISI. Picton Mahoney Asset Management grew its position 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Financial Institutions by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,716 shares of the bank's stock worth $238,000 after buying an additional 380 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Financial Institutions by 1.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 60,320 shares of the bank's stock worth $1,646,000 after buying an additional 595 shares during the last quarter. CWM LLC boosted its holdings in Financial Institutions by 8.1% in the 1st quarter. CWM LLC now owns 9,222 shares of the bank's stock worth $230,000 after buying an additional 688 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Financial Institutions by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 125,323 shares of the bank's stock worth $3,420,000 after buying an additional 895 shares in the last quarter. 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.