Financial Institutions (NASDAQ:FISI – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.
Separately, Keefe, Bruyette & Woods restated a “market perform” rating and set a $25.00 price objective (up previously from $20.00) on shares of Financial Institutions in a research report on Monday, July 29th.
Check Out Our Latest Stock Report on Financial Institutions
Financial Institutions Trading Down 1.2 %
Financial Institutions (NASDAQ:FISI – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $1.62 EPS for the quarter, topping the consensus estimate of $0.70 by $0.92. Financial Institutions had a net margin of 13.95% and a return on equity of 12.06%. The business had revenue of $102.80 million for the quarter. During the same period in the previous year, the firm earned $0.91 EPS. Research analysts expect that Financial Institutions will post 3.64 EPS for the current fiscal year.
Institutional Investors Weigh In On Financial Institutions
Several institutional investors have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Financial Institutions during the 2nd quarter valued at about $25,000. Lazard Asset Management LLC acquired a new stake in Financial Institutions during the 1st quarter valued at approximately $98,000. CWM LLC lifted its stake 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 during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Financial Institutions by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock valued at $166,000 after purchasing an additional 742 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Financial Institutions by 11.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,276 shares of the bank’s stock valued at $237,000 after purchasing an additional 1,216 shares during the period. Institutional investors own 60.45% of the company’s stock.
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.
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