Financial Institutions, Inc. (NASDAQ:FISI) Director Donald Boswell purchased 359 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were purchased at an average cost of $33.40 per share, for a total transaction of $11,990.60. Following the completion of the purchase, the director now directly owns 1,635 shares in the company, valued at $54,609. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Financial Institutions, Inc. (NASDAQ:FISI) traded up $0.05 during mid-day trading on Friday, hitting $33.10. 45,207 shares of the stock traded hands, compared to its average volume of 65,994. The stock has a market cap of $517.22, a price-to-earnings ratio of 16.47 and a beta of 1.25. Financial Institutions, Inc. has a 1-year low of $25.65 and a 1-year high of $35.40. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75.
Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The business had revenue of $37.01 million for the quarter. Financial Institutions had a net margin of 19.46% and a return on equity of 9.66%. equities analysts expect that Financial Institutions, Inc. will post 1.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Thursday, December 14th will be issued a dividend of $0.22 per share. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Wednesday, December 13th. Financial Institutions’s dividend payout ratio is presently 41.79%.
Several hedge funds have recently made changes to their positions in FISI. SG Americas Securities LLC purchased a new position in Financial Institutions in the third quarter valued at approximately $139,000. Brandywine Global Investment Management LLC raised its holdings in Financial Institutions by 17.4% in the second quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock valued at $142,000 after buying an additional 702 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Financial Institutions in the second quarter valued at approximately $216,000. Virtu KCG Holdings LLC purchased a new position in Financial Institutions in the second quarter valued at approximately $219,000. Finally, Smith Asset Management Group LP raised its holdings in Financial Institutions by 820.2% in the second quarter. Smith Asset Management Group LP now owns 7,638 shares of the bank’s stock valued at $228,000 after buying an additional 6,808 shares during the period. Institutional investors and hedge funds own 69.31% of the company’s stock.
Several equities research analysts have issued reports on the stock. ValuEngine cut shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 price objective on shares of Financial Institutions in a report on Thursday, October 26th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $31.50 price objective on shares of Financial Institutions in a report on Wednesday, October 4th.
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About Financial Institutions
Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.
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