This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Cheap Small Bank Stocks (Update 2)

3. Financial Institutions, Inc.

Shares of Financial Institutions, Inc. (FISI - Get Report) of Warsaw, N.Y., closed at $15.87 Thursday, down 1% year-to-date, following a 12% decline during 2011. Based on a 13-cent quarterly payout, the shares have a dividend yield of 3.28%.

The shares trade for nine times the consensus 2013 EPS estimate of $1.80, and for 1.2 times tangible book value.

The consensus 2012 EPS estimate is $1.71.

The company finished redeeming TARP preferred shares in March 2011.

Financial Institutions, Inc., in January agreed to purchase four branches in New York and Connecticut from HSBC (HBC) and four from First Niagara Financial Group (FNFG), in connection with the latter company's purchase of about 200 HSBC branches, and divestiture of about 100 branches.

FISI reported fourth-quarter net income applicable to common shareholders of $5.4 million, or 39 cents a share, increasing from $4.2 million, or 38 cents a share, a year earlier.

Janney Capital Markets analyst Rick Weiss on Jan. 27 reiterated his "Buy" rating for Financial Institutions, Inc., with a fair value estimate of $20, saying that the fourth-quarter results and the branch deal "affirm our opinion that management continues to improve the company's attractive upstate New York franchise."

Weiss estimates that the company will earn $1.70 a share during 2012, followed by 2013 EPS of $1.80.

Interested in more on Financial Institutions, Inc.? See TheStreet Ratings' report card for this stock.
4 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BAC $14.79 0.00%
BANC $20.15 0.00%
FISI $28.40 0.00%
OFG $8.86 0.00%
WIBC $10.87 -0.09%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs