Financial Institutions, Inc. (NASDAQ:FISI) EVP Samuel J. Burruano, Jr. purchased 500 shares of the company’s stock in a transaction that occurred on Tuesday, September 14th. The shares were purchased at an average cost of $29.45 per share, for a total transaction of $14,725.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of FISI traded up $0.64 during midday trading on Wednesday, hitting $29.51. The company had a trading volume of 451 shares, compared to its average volume of 55,244. The company’s 50 day moving average price is $30.41 and its 200 day moving average price is $30.70. The stock has a market cap of $467.50 million, a price-to-earnings ratio of 7.04 and a beta of 1.18. Financial Institutions, Inc. has a 52 week low of $14.35 and a 52 week high of $33.45. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.16.
Financial Institutions (NASDAQ:FISI) last released its earnings results on Thursday, July 29th. The bank reported $1.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.45. The company had revenue of $47.92 million during the quarter, compared to the consensus estimate of $47.73 million. Financial Institutions had a net margin of 32.05% and a return on equity of 14.81%. Equities analysts anticipate that Financial Institutions, Inc. will post 4.28 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Financial Institutions by 5.9% in the 1st quarter. BlackRock Inc. now owns 1,354,228 shares of the bank’s stock worth $41,020,000 after purchasing an additional 75,954 shares during the last quarter. FMR LLC boosted its holdings in shares of Financial Institutions by 84.1% in the 2nd quarter. FMR LLC now owns 738,016 shares of the bank’s stock valued at $22,140,000 after buying an additional 337,092 shares during the period. LSV Asset Management boosted its holdings in shares of Financial Institutions by 2.4% in the 2nd quarter. LSV Asset Management now owns 436,304 shares of the bank’s stock valued at $13,089,000 after buying an additional 10,232 shares during the period. State Street Corp boosted its holdings in shares of Financial Institutions by 9.2% in the 2nd quarter. State Street Corp now owns 384,352 shares of the bank’s stock valued at $11,636,000 after buying an additional 32,296 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Financial Institutions by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 294,350 shares of the bank’s stock valued at $8,830,000 after buying an additional 1,698 shares during the period. 67.65% of the stock is owned by institutional investors.
Separately, Zacks Investment Research raised shares of Financial Institutions from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research note on Tuesday, August 3rd.
About Financial Institutions
Financial Institutions, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Banking, Non-Banking, and Holding Company and Other. The Banking segment includes retail and commercial banking operations. The Non-Banking segment consists the activities of SDN, a full service insurance agency that offers an insurance services to both personal and business clients; and Courier Capital, an investment advisor and wealth management firm that delivers customized investment management, investment consulting, and retirement plan services to individuals, businesses, institutions, foundations, and retirement plans.
Featured Article: Stock Symbol
Receive News & Ratings for Financial Institutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Financial Institutions and related companies with MarketBeat.com's FREE daily email newsletter.