Stephens Reaffirms “Equal Weight” Rating for Financial Institutions (NASDAQ:FISI)

Financial Institutions (NASDAQ:FISI)‘s stock had its “equal weight” rating reiterated by stock analysts at Stephens in a research note issued to investors on Friday,Benzinga reports. They presently have a $33.00 price target on the bank’s stock. Stephens’ target price suggests a potential upside of 25.14% from the company’s current price.

A number of other brokerages have also recently issued reports on FISI. Keefe, Bruyette & Woods boosted their target price on Financial Institutions from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler assumed coverage on shares of Financial Institutions in a research note on Friday, December 20th. They set an “overweight” rating and a $33.00 price objective for the company. Finally, StockNews.com downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

Financial Institutions Stock Performance

NASDAQ:FISI opened at $26.37 on Friday. The company has a market cap of $408.05 million, a P/E ratio of 8.29 and a beta of 0.91. The firm’s 50 day moving average is $27.07 and its two-hundred day moving average is $25.81. Financial Institutions has a fifty-two week low of $16.29 and a fifty-two week high of $29.34. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26.

Financial Institutions (NASDAQ:FISI) last issued its earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.20). Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. Analysts expect that Financial Institutions will post 3.31 EPS for the current year.

Insider Buying and Selling at Financial Institutions

In other news, Director Robert N. Latella purchased 4,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $25.00 per share, with a total value of $100,000.00. Following the acquisition, the director now owns 16,000 shares in the company, valued at approximately $400,000. This trade represents a 33.33 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Financial Institutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Financial Institutions by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 124,428 shares of the bank’s stock worth $3,169,000 after acquiring an additional 417 shares in the last quarter. SG Americas Securities LLC increased its holdings in Financial Institutions by 14.9% during the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock worth $202,000 after purchasing an additional 964 shares during the last quarter. R Squared Ltd acquired a new position in shares of Financial Institutions in the 4th quarter valued at approximately $30,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Financial Institutions by 1.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 59,725 shares of the bank’s stock valued at $1,521,000 after buying an additional 1,137 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Financial Institutions by 119.3% during the third quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock worth $66,000 after buying an additional 1,399 shares in the last quarter. 60.45% of the stock is owned by hedge funds and other institutional investors.

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.