Financial institutions Cuts Financial Institutions (NASDAQ:FISI) to Hold

Financial Institutions (NASDAQ:FISI – Get a Rating) was downgraded by from a “buy” rating to a “hold” rating in a Monday report.

Separately, Zacks Investment Research upgraded financial institution stocks from a “hold” rating to a “buy” rating and set a price target of $31.00 on the stock in a Monday 2 may.

Shares of NASDAQ:FISI traded at $0.35 during Monday’s trading, hitting $27.10. 39,281 shares of the company were traded, against an average volume of 53,909. The stock has a market capitalization of $414.60 million, a price-earnings ratio of 6.10 and a beta of 1.04. The company’s 50-day moving average is $29.23 and its 200-day moving average is $31.15. Financial institutions have a one-year low of $26.22 and a one-year high of $34.43. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt ratio of 0.17.

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 analysts’ consensus estimate of $0.76 by $0.17. Financial institutions had a return on equity of 15.44% and a net margin of 33.70%. The company posted revenue of $50.88 million in the quarter, compared to analyst estimates of $49.61 million. During the same period a year earlier, the company posted EPS of $1.27. On average, analysts expect financial institutions to post an EPS of 3.47 for the current year.

Institutional investors have recently changed their positions in the company. Great West Life Assurance Co. Can increased its position in financial institutions by 177.3% in the first quarter. Great West Life Assurance Co. Can now owns 857 shares of the bank worth $26,000 after purchasing an additional 548 shares during the period. Advisor Group Holdings Inc. raised its position in financial institutions by 396.9% in the third quarter. Advisor Group Holdings Inc. now owns 954 shares of the bank worth $30,000 after purchasing an additional 762 shares during the period. Lazard Asset Management LLC increased its holdings of financial institution stocks by 68.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,433 shares of the bank worth $45,000 after acquiring 583 additional shares during the period. Citigroup Inc. increased its stake in financial institutions by 52.7% in the third quarter. Citigroup Inc. now owns 1,759 shares of the bank valued at $54,000 after acquiring 607 additional shares during the period. Lastly, BNP Paribas Arbitrage SA increased its stake in Financial Institutions by 96.9% in the third quarter. BNP Paribas Arbitrage SA now owns 4,172 shares in the bank valued at $128,000 after acquiring an additional 2,053 shares during the period. 68.82% of the shares are held by hedge funds and other institutional investors.

About financial institutions (Get a rating)

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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