Financial Institutions (NASDAQ:FISI) Shares Break Above 50 Day Moving Average - Time to Sell?

Key Points

• Financial Institutions shares rose above their 50-day moving average, trading near $40.15 versus the $40.13 average, with the stock up about 2% and its 200-day average at $36.75.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $45.00; ratings include two Buys and two Holds.
• The bank reported quarterly EPS of $0.99, below the $1.05 consensus estimate, while revenue also missed expectations. It pays a quarterly dividend of $0.32, equal to a 3.2% yield, and institutional investors own 60.45% of shares.

Financial Institutions, Inc. (NASDAQ:FISI - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $40.13 and traded as high as $40.37. Financial Institutions shares last traded at $40.15, with a volume of 152,498 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler reaffirmed a "neutral" rating and set a $45.00 price objective (up from $38.00) on shares of Financial Institutions in a report on Monday, August 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Financial Institutions in a research report on Friday, October 2nd. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Financial Institutions in a research report on Monday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $45.00.

Financial Institutions Stock Up 2.0%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $791.36 million, a price-to-earnings ratio of 9.96 and a beta of 0.62. The firm's 50-day simple moving average is $40.13 and its two-hundred day simple moving average is $36.75.

Financial Institutions (NASDAQ:FISI - Get Free Report) last announced its earnings results on Thursday, October 29th. The bank reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.05 by ($0.06). Financial Institutions had a return on equity of 13.45% and a net margin of 21.78%. The company had revenue of $64.75 million for the quarter, compared to analyst estimates of $66.55 million. On average, sell-side analysts expect that Financial Institutions, Inc. will post 4.21 EPS for the current fiscal year.

Financial Institutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 annualized dividend and a dividend yield of 3.2%. Financial Institutions's dividend payout ratio is presently 31.76%.

Institutional Trading of Financial Institutions

Several hedge funds have recently added to or reduced their stakes in FISI. Commonwealth Equity Services LLC raised its holdings in Financial Institutions by 0.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 58,003 shares of the bank's stock valued at $2,261,000 after buying an additional 282 shares during the last quarter. Inspire Investing LLC bought a new stake in Financial Institutions during the 3rd quarter worth approximately $2,383,000. Daytona Street Capital LLC acquired a new position in Financial Institutions in the 3rd quarter valued at approximately $317,000. State of Alaska Department of Revenue acquired a new position in Financial Institutions in the 3rd quarter valued at approximately $28,000. Finally, Engineers Gate Manager LP acquired a new position in Financial Institutions in the 2nd quarter valued at approximately $305,000. 60.45% of the stock is owned by institutional investors and hedge funds.

About Financial Institutions

Financial Institutions, Inc NASDAQ: FISI is a diversified financial services company headquartered in Warsaw, New York. Through its principal banking subsidiary, Five Star Bank, the company provides community banking services to individuals, families, businesses and public-sector organizations.

Five Star Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, business financing, cash-management services and other traditional banking products. The company also provides wealth management, investment advisory and retirement-plan administration services through specialized subsidiaries, including Courier Capital and Benefit Plan Administrative Services.

Financial Institutions serves customers primarily across communities in upstate New York, with related financial services available in additional markets.

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