Financial Institutions (NASDAQ:FISI) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Financial Institutions (NASDAQ:FISI) had its target price increased by equities research analysts at Keefe, Bruyette & Woods from $42.00 to $45.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 9.56% from the stock’s current price.

FISI has been the topic of several other reports. Wall Street Zen lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Financial Institutions in a report on Monday, July 6th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Financial Institutions has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.

Financial Institutions Trading Up 1.1%

Shares of NASDAQ FISI traded up $0.46 during midday trading on Monday, reaching $41.08. 30,817 shares of the stock were exchanged, compared to its average volume of 149,250. Financial Institutions has a 12 month low of $24.62 and a 12 month high of $41.45. The company has a market capitalization of $808.77 million, a price-to-earnings ratio of 10.19 and a beta of 0.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day simple moving average of $37.69 and a two-hundred day simple moving average of $34.57.

Financial Institutions (NASDAQ:FISI) last announced its earnings results on Thursday, July 23rd. The bank reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The firm had revenue of $64.31 million for the quarter, compared to the consensus estimate of $63.54 million. Financial Institutions had a net margin of 21.78% and a return on equity of 13.54%. As a group, equities research analysts expect that Financial Institutions will post 3.96 EPS for the current year.

Institutional Trading of Financial Institutions

Hedge funds have recently modified their holdings of the stock. Hillsdale Investment Management Inc. bought a new position in Financial Institutions in the 1st quarter valued at about $7,391,000. PL Capital Advisors LLC boosted its position in shares of Financial Institutions by 1.6% in the fourth quarter. PL Capital Advisors LLC now owns 1,802,791 shares of the bank’s stock valued at $56,193,000 after acquiring an additional 27,905 shares during the period. Strs Ohio acquired a new stake in Financial Institutions in the 1st quarter worth about $596,000. Quantinno Capital Management LP boosted its holdings in Financial Institutions by 18.4% in the 1st quarter. Quantinno Capital Management LP now owns 20,501 shares of the bank’s stock valued at $650,000 after purchasing an additional 3,192 shares during the period. Finally, Sei Investments Co. grew its position in shares of Financial Institutions by 205.0% during the 1st quarter. Sei Investments Co. now owns 51,480 shares of the bank’s stock worth $1,632,000 after purchasing an additional 34,601 shares in the last quarter. Institutional investors and hedge funds own 60.45% of the company’s stock.

Financial Institutions Company Profile

Financial Institutions, Inc (NASDAQ: FISI) is a non-diversified, closed-end management investment company that seeks to provide tax-advantaged income to shareholders. The company invests primarily in investment-grade municipal obligations issued by states, municipalities and government agencies across the United States. By focusing on high-credit-quality bonds, Financial Institutions aims to deliver current income that is exempt from federal income tax.

In constructing its portfolio, the company may also utilize money market instruments and repurchase agreements to manage liquidity and facilitate efficient settlement.