Stock analysts at Sidoti assumed coverage on shares of Financial Institutions (NASDAQ:FISI) in a research report issued to clients and investors on Friday, The Fly reports. The brokerage set a “neutral” rating on the bank’s stock.

FISI has been the subject of several other research reports. Zacks Investment Research raised Financial Institutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st. ValuEngine upgraded Financial Institutions from a “strong sell” rating to a “sell” rating in a research report on Friday, May 1st. Finally, BidaskClub lowered Financial Institutions from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $27.50.

Shares of NASDAQ:FISI traded down $0.26 on Friday, reaching $14.77. The company had a trading volume of 123,193 shares, compared to its average volume of 48,094. Financial Institutions has a twelve month low of $12.78 and a twelve month high of $33.28. The stock has a 50-day moving average price of $16.86 and a 200 day moving average price of $20.96. The stock has a market capitalization of $236.60 million, a P/E ratio of 6.45 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.09.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Wednesday, July 29th. The bank reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.40. Financial Institutions had a return on equity of 9.02% and a net margin of 18.20%. The company had revenue of $44.01 million during the quarter, compared to analysts’ expectations of $42.72 million. On average, sell-side analysts predict that Financial Institutions will post 1.51 earnings per share for the current fiscal year.

In other news, SVP Samuel J. Burruano, Jr. acquired 1,500 shares of Financial Institutions stock in a transaction on Tuesday, May 5th. The shares were purchased at an average price of $19.56 per share, with a total value of $29,340.00. Following the acquisition, the senior vice president now owns 2,413 shares in the company, valued at $47,198.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Martin Kearney Birmingham acquired 5,000 shares of Financial Institutions stock in a transaction on Tuesday, May 5th. The shares were purchased at an average cost of $18.83 per share, for a total transaction of $94,150.00. Following the acquisition, the chief executive officer now owns 88,206 shares in the company, valued at approximately $1,660,918.98. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 10,058 shares of company stock worth $185,142. 4.03% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of FISI. Canandaigua National Corp acquired a new position in shares of Financial Institutions in the 2nd quarter valued at $7,352,000. BlackRock Inc. raised its stake in Financial Institutions by 3.3% during the 1st quarter. BlackRock Inc. now owns 1,297,537 shares of the bank’s stock worth $23,536,000 after buying an additional 41,281 shares during the period. Matarin Capital Management LLC acquired a new stake in Financial Institutions during the 1st quarter worth $735,000. Acadian Asset Management LLC increased its holdings in Financial Institutions by 49.0% during the 1st quarter. Acadian Asset Management LLC now owns 81,083 shares of the bank’s stock worth $1,467,000 after purchasing an additional 26,652 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Financial Institutions by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 248,456 shares of the bank’s stock worth $7,975,000 after purchasing an additional 22,831 shares in the last quarter. 70.27% of the stock is currently owned by hedge funds and other institutional investors.

Financial Institutions Company Profile

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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