Cwm LLC Has $208,000 Stake in Financial Institutions, Inc. (NASDAQ:FISI)

Cwm LLC lifted its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 50.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,172 shares of the bank’s stock after buying an additional 2,734 shares during the period. Cwm LLC owned approximately 0.05% of Financial Institutions worth $208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in shares of Financial Institutions in the 2nd quarter worth approximately $25,000. Lazard Asset Management LLC purchased a new position in shares of Financial Institutions in the 1st quarter worth approximately $98,000. SG Americas Securities LLC purchased a new position in shares of Financial Institutions in the 3rd quarter worth approximately $164,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Financial Institutions by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock worth $166,000 after buying an additional 742 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Financial Institutions by 11.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,276 shares of the bank’s stock worth $237,000 after buying an additional 1,216 shares during the last quarter. Hedge funds and other institutional investors own 60.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FISI shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $25.00 price objective (up previously from $20.00) on shares of Financial Institutions in a research note on Monday, July 29th. StockNews.com downgraded Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Financial Institutions Trading Up 0.6 %

Shares of FISI stock opened at $25.34 on Wednesday. The company’s fifty day simple moving average is $25.25 and its two-hundred day simple moving average is $21.41. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.86 and a quick ratio of 0.86. Financial Institutions, Inc. has a 1 year low of $15.22 and a 1 year high of $27.75. The stock has a market capitalization of $391.43 million, a price-to-earnings ratio of 10.10 and a beta of 0.89.

Financial Institutions (NASDAQ:FISI) last issued its earnings results on Thursday, July 25th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.92. Financial Institutions had a net margin of 13.95% and a return on equity of 12.06%. The business had revenue of $102.80 million for the quarter. During the same period in the previous year, the firm earned $0.91 EPS. As a group, analysts anticipate that Financial Institutions, Inc. will post 3.64 earnings per share for the current year.

Financial Institutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Friday, September 13th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a yield of 4.74%. Financial Institutions’s payout ratio is 47.81%.

About Financial Institutions

Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.