Financial Institutions (NASDAQ:FISI) Raised to Buy at StockNews.com

Financial Institutions (NASDAQ:FISIGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Separately, Zacks Investment Research raised Financial Institutions from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Monday, May 2nd.

Shares of FISI stock remained flat at $$27.10 on Thursday. 48,414 shares of the company traded hands, compared to its average volume of 54,679. The company has a market cap of $420.78 million, a P/E ratio of 6.10 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.77 and a quick ratio of 0.77. Financial Institutions has a fifty-two week low of $26.62 and a fifty-two week high of $34.43. The business has a fifty day simple moving average of $30.04 and a 200 day simple moving average of $31.45.

Financial Institutions (NASDAQ:FISIGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.17. Financial Institutions had a net margin of 33.70% and a return on equity of 15.05%. During the same period in the prior year, the company posted $1.27 earnings per share. On average, sell-side analysts anticipate that Financial Institutions will post 3.47 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Morgan Stanley grew its stake in Financial Institutions by 189.8% in the 2nd quarter. Morgan Stanley now owns 30,521 shares of the bank’s stock valued at $916,000 after buying an additional 19,989 shares during the last quarter. SG Americas Securities LLC bought a new position in Financial Institutions during the third quarter worth about $315,000. Advisor Group Holdings Inc. grew its holdings in shares of Financial Institutions by 396.9% during the 3rd quarter. Advisor Group Holdings Inc. now owns 954 shares of the bank’s stock valued at $30,000 after purchasing an additional 762 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Financial Institutions by 4.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 22,030 shares of the bank’s stock worth $675,000 after purchasing an additional 890 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in Financial Institutions by 1,683.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 856 shares of the bank’s stock valued at $31,000 after purchasing an additional 808 shares in the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.

About Financial Institutions (Get Rating)

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

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