Financial Institutions’ (FISI) “Buy” Rating Reiterated at Hovde Group
Several other equities research analysts have also issued reports on FISI. Keefe, Bruyette & Woods restated a hold rating and set a $33.00 price target on shares of Financial Institutions in a research note on Thursday, October 26th. BidaskClub lowered shares of Financial Institutions from a buy rating to a hold rating in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $33.50.
Shares of Financial Institutions (NASDAQ:FISI) opened at $31.80 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. Financial Institutions has a one year low of $25.65 and a one year high of $35.40. The stock has a market cap of $504.73, a P/E ratio of 15.00 and a beta of 1.16.
In other Financial Institutions news, Director Andrew W. Dorn, Jr. acquired 1,557 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average cost of $30.95 per share, with a total value of $48,189.15. Following the acquisition, the director now owns 16,999 shares in the company, valued at $526,119.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph L. Dugan acquired 930 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was acquired at an average cost of $32.15 per share, with a total value of $29,899.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 6,496 shares of company stock valued at $207,123. 5.49% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FISI. Dimensional Fund Advisors LP boosted its holdings in Financial Institutions by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 967,271 shares of the bank’s stock worth $28,825,000 after buying an additional 77,202 shares during the period. American Century Companies Inc. boosted its holdings in Financial Institutions by 536.0% in the 4th quarter. American Century Companies Inc. now owns 71,497 shares of the bank’s stock worth $2,224,000 after buying an additional 60,256 shares during the period. Citadel Advisors LLC boosted its holdings in Financial Institutions by 103.6% in the 3rd quarter. Citadel Advisors LLC now owns 94,620 shares of the bank’s stock worth $2,725,000 after buying an additional 48,141 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Financial Institutions by 53.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 125,064 shares of the bank’s stock worth $3,727,000 after buying an additional 43,526 shares during the period. Finally, Foundry Partners LLC boosted its holdings in Financial Institutions by 18.5% in the 4th quarter. Foundry Partners LLC now owns 186,390 shares of the bank’s stock worth $5,797,000 after buying an additional 29,075 shares during the period. 69.18% of the stock is owned by institutional investors.
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About Financial Institutions
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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