Financial institutions

Financial institutions (NASDAQ:FISI) lifted to “buy” on StockNews.com


Financial Institutions (NASDAQ:FISI – Get a Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note released Thursday.

Separately, Zacks Investment Research moved financial institution stocks from a “hold” rating to a “buy” rating and set a price target of $31.00 for the company in a Monday research report. May 2.

FISI shares opened at $26.70 on Thursday. Financial institutions have a 1-year low of $26.54 and a 1-year high of $34.43. The company has a fifty-day moving average price of $29.85 and a 200-day moving average price of $31.39. The company has a debt ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $408.48 million, a price-earnings ratio of 6.01 and a beta of 1.04.

Financial institutions (NASDAQ:FISI – Get Rating) last released their quarterly earnings data on Wednesday, April 27. The bank reported earnings per share (EPS) of $0.93 for the quarter, beating consensus analyst estimates of $0.76 by $0.17. Financial institutions had a net margin of 33.70% and a return on equity of 15.44%. In the same quarter a year earlier, the company posted earnings of $1.27 per share. Equity research analysts expect financial institutions to post EPS of 3.47 for the current year.

Institutional investors and hedge funds have recently changed their stock holdings. Fuller & Thaler Asset Management Inc. increased its stake in Financial Institutions by 4.2% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 181,221 shares of the bank valued at $5,554,000 after purchasing an additional 7,312 shares during the period. Martingale Asset Management LP increased its stake in Financial Institutions by 20.1% during the third quarter. Martingale Asset Management LP now owns 53,597 shares of the bank valued at $1,644,000 after purchasing an additional 8,964 shares during the period. GSA Capital Partners LLP increased its stake in Financial Institutions by 193.6% during the third quarter. GSA Capital Partners LLP now owns 28,118 shares of the bank valued at $862,000 after purchasing an additional 18,540 shares during the period. Marshall Wace LLP purchased a new stake in Financial Institutions during Q3 valued at approximately $292,000. Finally, Seizert Capital Partners LLC acquired a new stake in financial institutions during the 4th quarter valued at approximately $539,000. 68.82% of the shares are currently held by institutional investors.

About financial institutions (Get an evaluation)

Financial Institutions, Inc. operates as a holding company for Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York City. The company offers checking and savings account programs, including money market accounts, certificates of deposit, sweeping investment and individual retirement accounts and other qualified plan accounts.

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