Wealth Enhancement Advisory Services LLC Purchases 2,456 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 20.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,732 shares of the bank’s stock after buying an additional 2,456 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.10% of Financial Institutions worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of FISI. Allspring Global Investments Holdings LLC raised its position in shares of Financial Institutions by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock valued at $166,000 after buying an additional 742 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Financial Institutions by 31.4% during the first quarter. BNP Paribas Financial Markets now owns 24,797 shares of the bank’s stock valued at $467,000 after buying an additional 5,922 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Financial Institutions during the first quarter valued at approximately $433,000. Empowered Funds LLC grew its holdings in shares of Financial Institutions by 8.1% in the first quarter. Empowered Funds LLC now owns 58,600 shares of the bank’s stock valued at $1,103,000 after purchasing an additional 4,375 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Financial Institutions by 2.1% in the first quarter. Vanguard Group Inc. now owns 784,928 shares of the bank’s stock valued at $14,772,000 after purchasing an additional 16,462 shares in the last quarter. Institutional investors own 60.45% of the company’s stock.

Financial Institutions Trading Up 1.2 %

FISI stock opened at $26.96 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a fifty day moving average price of $25.28 and a 200 day moving average price of $22.11. The firm has a market cap of $417.07 million, a PE ratio of 8.48 and a beta of 0.90. Financial Institutions, Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $28.00.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $50.12 million during the quarter. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. During the same period in the previous year, the firm earned $0.88 earnings per share. Sell-side analysts anticipate that Financial Institutions, Inc. will post 3.6 earnings per share for the current fiscal year.

Financial Institutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Friday, September 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.45%. The ex-dividend date was Friday, September 13th. Financial Institutions’s payout ratio is 37.74%.

Analyst Ratings Changes

A number of research firms recently weighed in on FISI. StockNews.com lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $25.00 target price (up from $20.00) on shares of Financial Institutions in a report on Monday, July 29th.

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.