Financial Institutions (NASDAQ:FISI) Stock Crosses Below 50 Day Moving Average - What's Next?

Key Points

• Financial Institutions shares fell below their 50-day moving average, trading as low as $39.68 versus a $40.02 average.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $45; Piper Sandler raised its target to $45 while maintaining a neutral rating.
• The bank’s latest quarterly results missed estimates, reporting EPS of $0.99 versus $1.05 expected and revenue of $64.75 million versus $66.55 million expected. It pays an annualized dividend of $1.28, a 3.2% yield.

Financial Institutions, Inc. (NASDAQ:FISI - Get Free Report)'s share price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $40.02 and traded as low as $39.68. Financial Institutions shares last traded at $39.97, with a volume of 134,353 shares trading hands.

Analysts Set New Price Targets

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

Financial Institutions Trading Down 0.6%

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. The firm's 50 day moving average is $40.02 and its two-hundred day moving average is $36.98. The stock has a market cap of $787.81 million, a price-to-earnings ratio of 9.92 and a beta of 0.62.

Financial Institutions (NASDAQ:FISI - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The bank reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.06). Financial Institutions had a net margin of 21.71% and a return on equity of 13.31%. The firm had revenue of $64.75 million for the quarter, compared to analyst estimates of $66.55 million. Equities analysts anticipate that Financial Institutions, Inc. will post 4.21 EPS for the current year.

Financial Institutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were issued a $0.32 dividend. The ex-dividend date 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 31.76%.

Institutional Trading of Financial Institutions

Large investors have recently added to or reduced their stakes in the business. Ieq Capital LLC grew its position in Financial Institutions by 5.9% in the third quarter. Ieq Capital LLC now owns 11,796 shares of the bank's stock worth $460,000 after buying an additional 652 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Financial Institutions by 0.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 58,003 shares of the bank's stock worth $2,261,000 after acquiring an additional 282 shares in the last quarter. Inspire Investing LLC bought a new stake in shares of Financial Institutions during the 3rd quarter worth $2,383,000. Daytona Street Capital LLC acquired a new position in shares of Financial Institutions in the 3rd quarter worth $317,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Financial Institutions in the 3rd quarter worth $28,000. 60.45% of the stock is currently owned by institutional investors.

Financial Institutions Company Profile

Financial Institutions, Inc. is a financial holding company that provides banking and related financial services through its subsidiaries, including Five Star Bank. Its offerings serve both individuals and businesses. Five Star Bank provides deposit accounts, lending, mortgage and other banking services. The company also offers wealth management services through its subsidiary, Courier Capital, LLC. Based in Warsaw, New York, Financial Institutions primarily serves communities in western and central New York through Five Star Bank's branch network and other service channels.

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