Financial Institutions (NASDAQ:FISI) Upgraded to "Hold" at StockNews.com

Financial Institutions (NASDAQ:FISI - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Thursday.

Several other brokerages have also recently issued reports on FISI. Stephens reaffirmed 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 lifted their price objective for the stock from $29.00 to $34.00 in a report on Monday, February 3rd.

Financial Institutions Stock Performance

FISI opened at $25.77 on Thursday. Financial Institutions has a 1-year low of $16.81 and a 1-year high of $29.79. The company has a market cap of $518.13 million, a price-to-earnings ratio of -17.77 and a beta of 0.70. The company's fifty day moving average price is $24.62 and its two-hundred day moving average price is $26.20. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26.

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

Institutional Trading of Financial Institutions

A number of hedge funds have recently bought and sold shares of FISI. R Squared Ltd purchased a new stake in shares of Financial Institutions during the 4th quarter valued at $30,000. Picton Mahoney Asset Management grew its position 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 buying an additional 374 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Financial Institutions during the 4th quarter worth approximately $87,000. SG Americas Securities LLC increased its position in Financial Institutions by 14.9% in the fourth quarter. SG Americas Securities LLC now owns 7,418 shares of the bank's stock worth $202,000 after buying an additional 964 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Financial Institutions by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,716 shares of the bank's stock valued at $238,000 after buying an additional 380 shares during the last quarter. 60.45% of the stock is currently owned by institutional investors.

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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