Financial Institutions (NASDAQ:FISI) Upgraded at Wall Street Zen

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

Financial Institutions Trading Down 0.9%

FISI traded down $0.25 during trading on Friday, reaching $27.02. 115,271 shares of the stock traded hands, compared to its average volume of 117,043. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $543.37 million, a PE ratio of -36.03 and a beta of 0.71. The stock's 50-day moving average is $26.06 and its 200 day moving average is $26.03. Financial Institutions has a 12 month low of $20.21 and a 12 month high of $29.79.

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. The business had revenue of $57.24 million for 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%. Equities analysts anticipate that Financial Institutions will post 3.3 earnings per share for the current year.

Financial Institutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Friday, June 13th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a yield of 4.59%. Financial Institutions's dividend payout ratio (DPR) is currently -165.33%.

Hedge Funds Weigh In On Financial Institutions

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in shares of Financial Institutions by 5.0% during the 1st quarter. Rhumbline Advisers now owns 24,489 shares of the bank's stock worth $611,000 after purchasing an additional 1,157 shares in the last quarter. Mendon Capital Advisors Corp boosted its position in shares of Financial Institutions by 11.7% during the 1st quarter. Mendon Capital Advisors Corp now owns 111,720 shares of the bank's stock worth $2,789,000 after purchasing an additional 11,720 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Financial Institutions during the 1st quarter worth about $375,000. Empowered Funds LLC boosted its position in shares of Financial Institutions by 7.1% during the 1st quarter. Empowered Funds LLC now owns 74,841 shares of the bank's stock worth $1,868,000 after purchasing an additional 4,979 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Financial Institutions during the 1st quarter worth about $400,000. 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.