ValuEngine cut shares of Financial Institutions (NASDAQ:FISI) from a hold rating to a sell rating in a report released on Tuesday.

Several other equities research analysts have also issued reports on the stock. BidaskClub upgraded shares of Financial Institutions from a sell rating to a hold rating in a research note on Wednesday, February 20th. Zacks Investment Research lowered shares of Financial Institutions from a buy rating to a hold rating in a research note on Friday, January 4th.

Shares of FISI stock opened at $28.98 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. Financial Institutions has a 1 year low of $24.49 and a 1 year high of $34.35. The firm has a market capitalization of $466.55 million, a price-to-earnings ratio of 11.28 and a beta of 0.92.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Thursday, January 31st. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. Financial Institutions had a net margin of 20.89% and a return on equity of 11.41%. The firm had revenue of $41.38 million for the quarter, compared to analyst estimates of $40.40 million. Research analysts expect that Financial Institutions will post 2.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th will be paid a $0.25 dividend. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.45%. The ex-dividend date is Thursday, March 14th. Financial Institutions’s payout ratio is presently 37.35%.

A number of hedge funds have recently modified their holdings of FISI. California Public Employees Retirement System increased its stake in shares of Financial Institutions by 0.8% during the 4th quarter. California Public Employees Retirement System now owns 49,780 shares of the bank’s stock worth $1,279,000 after purchasing an additional 409 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Financial Institutions by 20.5% during the 4th quarter. Legal & General Group Plc now owns 2,788 shares of the bank’s stock worth $71,000 after purchasing an additional 474 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Financial Institutions by 0.8% during the 4th quarter. Nordea Investment Management AB now owns 59,700 shares of the bank’s stock worth $1,534,000 after purchasing an additional 500 shares during the last quarter. Citigroup Inc. increased its stake in shares of Financial Institutions by 16.5% during the 4th quarter. Citigroup Inc. now owns 5,010 shares of the bank’s stock worth $128,000 after purchasing an additional 710 shares during the last quarter. Finally, Virginia Retirement Systems ET AL increased its stake in shares of Financial Institutions by 7.8% during the 4th quarter. Virginia Retirement Systems ET AL now owns 13,900 shares of the bank’s stock worth $357,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 70.02% of the company’s stock.

About Financial Institutions

Financial Institutions, Inc operates as the holding company for Five Star Bank that provides banking and financial services to individuals, municipalities, and businesses. It operates in two segments, Banking and Non-Banking. The company offers checking and savings account programs, including money market accounts, certificates of deposit, and sweep investments, as well as individual retirement and other qualified plan accounts.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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