Keefe, Bruyette & Woods Boosts Financial Institutions (NASDAQ:FISI) Price Target to $28.00

Financial Institutions (NASDAQ:FISI) had its target price increased by stock analysts at Keefe, Bruyette & Woods from $27.00 to $28.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 4.83% from the company’s previous close.

Separately, StockNews.com downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Financial Institutions Stock Down 0.8 %

Financial Institutions stock opened at $26.71 on Wednesday. The firm has a 50 day moving average price of $25.91 and a two-hundred day moving average price of $23.27. Financial Institutions has a 52-week low of $16.29 and a 52-week high of $29.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $413.20 million, a price-to-earnings ratio of 8.40 and a beta of 0.92.

Financial Institutions (NASDAQ:FISI) last posted its earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. The firm had revenue of $50.12 million during the quarter. During the same quarter in the previous year, the company earned $0.88 EPS. Equities analysts predict that Financial Institutions will post 3.6 EPS for the current year.

Institutional Investors Weigh In On Financial Institutions

Institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in shares of Financial Institutions during the 2nd quarter valued at approximately $25,000. US Bancorp DE lifted its holdings in shares of Financial Institutions by 119.3% in the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock worth $66,000 after buying an additional 1,399 shares during the period. CWM LLC raised its holdings in shares of Financial Institutions by 150.4% in the 2nd quarter. CWM LLC now owns 5,438 shares of the bank’s stock valued at $105,000 after purchasing an additional 3,266 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Financial Institutions during the third quarter worth $164,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Financial Institutions by 23.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,837 shares of the bank’s stock valued at $209,000 after purchasing an additional 2,026 shares in the last quarter. 60.45% of the stock is owned by hedge funds and other institutional investors.

About Financial Institutions

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 provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.