GSA Capital Partners LLP decreased its position in Financial Institutions, Inc. (NASDAQ:FISI) by 9.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,094 shares of the bank’s stock after selling 1,762 shares during the quarter. GSA Capital Partners LLP owned about 0.10% of Financial Institutions worth $464,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in FISI. SG Americas Securities LLC acquired a new stake in shares of Financial Institutions in the third quarter valued at $139,000. Brandywine Global Investment Management LLC lifted its holdings in shares of 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 acquired a new stake in shares of Financial Institutions in the second quarter valued at $216,000. Virtu KCG Holdings LLC acquired a new stake in shares of Financial Institutions in the second quarter valued at $219,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Financial Institutions by 1.7% in the second quarter. Wells Fargo & Company MN now owns 9,351 shares of the bank’s stock valued at $279,000 after buying an additional 159 shares during the period. Institutional investors and hedge funds own 69.20% of the company’s stock.
In related news, CEO Martin Kearney Birmingham bought 1,000 shares of Financial Institutions stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $31.65 per share, with a total value of $31,650.00. Following the completion of the acquisition, the chief executive officer now directly owns 82,916 shares in the company, valued at approximately $2,624,291.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph L. Dugan bought 930 shares of Financial Institutions stock in a transaction dated Tuesday, November 21st. The shares were bought at an average cost of $32.15 per share, with a total value of $29,899.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 4,939 shares of company stock valued at $158,934. 5.49% of the stock is currently owned by company insiders.
Several analysts have recently weighed in on the company. BidaskClub lowered Financial Institutions from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine lowered Financial Institutions from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Piper Jaffray Companies restated a “hold” rating and issued a $31.50 price objective on shares of Financial Institutions in a report on Wednesday, October 4th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $33.00 price objective on shares of Financial Institutions in a report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Financial Institutions has a consensus rating of “Hold” and a consensus target price of $32.25.
Shares of Financial Institutions, Inc. (FISI) opened at $31.65 on Friday. Financial Institutions, Inc. has a fifty-two week low of $25.65 and a fifty-two week high of $35.40. The company has a market capitalization of $486.76, a price-to-earnings ratio of 15.75 and a beta of 1.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11.
Financial Institutions (NASDAQ:FISI) last announced its earnings results on Tuesday, October 24th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. Financial Institutions had a return on equity of 9.66% and a net margin of 19.46%. The business had revenue of $37.01 million during the quarter. sell-side analysts anticipate that Financial Institutions, Inc. will post 1.94 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Thursday, December 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.78%. This is an increase from Financial Institutions’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, December 13th. Financial Institutions’s dividend payout ratio is currently 43.78%.
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Financial Institutions Profile
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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