FISI has been the subject of a number of other reports. Zacks Investment Research raised Financial Institutions from a hold rating to a buy rating and set a $33.00 price objective for the company in a report on Monday, August 12th. ValuEngine lowered shares of Financial Institutions from a hold rating to a sell rating in a report on Wednesday, October 2nd.
Shares of FISI traded down $0.05 during mid-day trading on Friday, reaching $32.45. The company had a trading volume of 2,286 shares, compared to its average volume of 25,976. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $512.91 million, a P/E ratio of 12.63 and a beta of 0.83. Financial Institutions has a twelve month low of $24.49 and a twelve month high of $32.74. The company’s 50-day moving average is $30.84 and its 200-day moving average is $29.25.
A number of large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its holdings in shares of Financial Institutions by 114.8% during the third quarter. Russell Investments Group Ltd. now owns 4,707 shares of the bank’s stock worth $142,000 after buying an additional 2,516 shares in the last quarter. Cutler Capital Management LLC acquired a new position in shares of Financial Institutions in the 2nd quarter worth approximately $175,000. UBS Asset Management Americas Inc. bought a new stake in Financial Institutions during the 2nd quarter worth approximately $210,000. Panagora Asset Management Inc. grew its position in Financial Institutions by 412.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 7,751 shares of the bank’s stock worth $226,000 after acquiring an additional 6,238 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in Financial Institutions during the 2nd quarter valued at $279,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.
About Financial Institutions
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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