Financial Institutions (NASDAQ:FISI) Shares Break Above 50 Day Moving Average – Time to Sell?

Financial Institutions, Inc. (NASDAQ:FISI) shares crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $40.13 and traded as high as $40.37. Financial Institutions shares last traded at $40.15, with a volume of 152,498 shares traded.

Wall Street Analyst Weigh In

FISI has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Financial Institutions in a report on Friday, October 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price objective (up from $38.00) on shares of Financial Institutions in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Financial Institutions in a report on Monday. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Financial Institutions presently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Financial Institutions Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. The company has a fifty day moving average price of $40.13 and a 200 day moving average price of $36.75. The stock has a market cap of $791.36 million, a P/E ratio of 9.96 and a beta of 0.62.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Thursday, October 29th. The bank reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.06). Financial Institutions had a net margin of 21.78% and a return on equity of 13.45%. The business had revenue of $64.75 million for the quarter, compared to the consensus estimate of $66.55 million. On average, equities analysts expect that Financial Institutions, Inc. will post 4.21 EPS for the current year.

Financial Institutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 annualized dividend and a dividend yield of 3.2%. Financial Institutions’s payout ratio is presently 31.76%.

Hedge Funds Weigh In On Financial Institutions

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Financial Institutions during the 2nd quarter valued at about $64,973,000. Ategra Capital Management LLC bought a new stake in Financial Institutions during the 2nd quarter worth approximately $21,983,000. Hillsdale Investment Management Inc. bought a new stake in Financial Institutions during the 1st quarter worth approximately $7,391,000. Canandaigua National Bank & Trust Co. purchased a new stake in shares of Financial Institutions in the second quarter worth approximately $6,006,000. Finally, Bank of America Corp DE purchased a new stake in shares of Financial Institutions in the second quarter worth approximately $5,015,000. Institutional investors own 60.45% of the company’s stock.

About Financial Institutions

Financial Institutions, Inc (NASDAQ:FISI) is a diversified financial services company headquartered in Warsaw, New York. Through its principal banking subsidiary, Five Star Bank, the company provides community banking services to individuals, families, businesses and public-sector organizations.

Five Star Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, business financing, cash-management services and other traditional banking products. The company also provides wealth management, investment advisory and retirement-plan administration services through specialized subsidiaries, including Courier Capital and Benefit Plan Administrative Services.

Financial Institutions serves customers primarily across communities in upstate New York, with related financial services available in additional markets.