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

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

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

Financial Institutions Trading Up 0.8%

FISI stock traded up $0.20 during midday trading on Friday, reaching $25.53. 129,248 shares of the company traded hands, compared to its average volume of 110,368. The business has a 50 day moving average of $25.28 and a 200-day moving average of $26.10. Financial Institutions has a 52-week low of $17.34 and a 52-week high of $29.79. The firm has a market capitalization of $513.41 million, a price-to-earnings ratio of -34.04 and a beta of 0.72. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 0.86.

Financial Institutions (NASDAQ:FISI - Get Free Report) last posted its 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. The company 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%. As a group, sell-side analysts expect that Financial Institutions will post 3.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FISI. Picton Mahoney Asset Management raised its holdings in shares of Financial Institutions by 45.5% during the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock valued at $32,000 after buying an additional 374 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Financial Institutions by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,716 shares of the bank's stock valued at $238,000 after acquiring an additional 380 shares during the period. Jacobs Levy Equity Management Inc. grew its position 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 purchasing an additional 595 shares during the last quarter. CWM LLC increased its position in Financial Institutions by 8.1% in the 1st quarter. CWM LLC now owns 9,222 shares of the bank's stock valued at $230,000 after acquiring an additional 688 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Financial Institutions by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 125,323 shares of the bank's stock valued at $3,420,000 after purchasing an additional 895 shares in the last quarter. 60.45% of the stock is currently owned by hedge funds and other institutional investors.

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.