Financial Institutions (NASDAQ:FISI) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday.
A number of other brokerages also recently weighed in on FISI. Keefe, Bruyette & Woods restated a “hold” rating and set a $33.00 target price on shares of Financial Institutions in a report on Thursday, October 26th. Hovde Group restated a “buy” rating and set a $36.00 target price on shares of Financial Institutions in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.50.
Financial Institutions (FISI) opened at $30.25 on Wednesday. The firm has a market cap of $476.60, a price-to-earnings ratio of 15.72 and a beta of 1.16. Financial Institutions has a fifty-two week low of $25.65 and a fifty-two week high of $35.40. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11.
In related news, CEO Martin Kearney Birmingham acquired 1,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were purchased at an average cost of $31.65 per share, for a total transaction of $31,650.00. Following the completion of the acquisition, the chief executive officer now directly owns 82,916 shares in the company, valued at $2,624,291.40. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph L. Dugan acquired 930 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was bought at an average price of $32.15 per share, for a total transaction of $29,899.50. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 6,496 shares of company stock worth $207,123. Corporate insiders own 5.49% of the company’s stock.
Several large investors have recently added to or reduced their stakes in FISI. Schwab Charles Investment Management Inc. increased its holdings in shares of Financial Institutions by 53.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 125,064 shares of the bank’s stock valued at $3,727,000 after purchasing an additional 43,526 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Financial Institutions by 1.7% in the second quarter. Wells Fargo & Company MN now owns 9,351 shares of the bank’s stock valued at $279,000 after purchasing an additional 159 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Financial Institutions by 79.0% in the second quarter. Alliancebernstein L.P. now owns 11,100 shares of the bank’s stock valued at $331,000 after purchasing an additional 4,900 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Financial Institutions by 3.3% in the second quarter. Teachers Advisors LLC now owns 24,496 shares of the bank’s stock valued at $730,000 after purchasing an additional 777 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Financial Institutions in the second quarter valued at $379,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.
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Financial Institutions Company Profile
Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.
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