Victory Capital Management Inc. Has $930,000 Stock Holdings in Financial Institutions, Inc. (NASDAQ:FISI)

Victory Capital Management Inc. cut its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,500 shares of the bank’s stock after selling 1,000 shares during the quarter. Victory Capital Management Inc. owned approximately 0.24% of Financial Institutions worth $930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in Financial Institutions in the third quarter worth about $513,000. AQR Capital Management LLC increased its position in Financial Institutions by 147.3% in the second quarter. AQR Capital Management LLC now owns 63,213 shares of the bank’s stock worth $1,221,000 after purchasing an additional 37,653 shares during the period. Acadian Asset Management LLC increased its position in Financial Institutions by 8.7% in the second quarter. Acadian Asset Management LLC now owns 324,263 shares of the bank’s stock worth $6,263,000 after purchasing an additional 25,865 shares during the period. Vanguard Group Inc. increased its position in Financial Institutions by 2.1% in the first quarter. Vanguard Group Inc. now owns 784,928 shares of the bank’s stock worth $14,772,000 after purchasing an additional 16,462 shares during the period. Finally, PL Capital Advisors LLC increased its position in Financial Institutions by 408.0% in the third quarter. PL Capital Advisors LLC now owns 1,771,516 shares of the bank’s stock worth $45,121,000 after purchasing an additional 1,422,765 shares during the period. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Financial Institutions Price Performance

Shares of FISI stock opened at $26.92 on Thursday. The stock has a 50-day moving average price of $25.75 and a 200 day moving average price of $22.93. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a market cap of $416.45 million, a price-to-earnings ratio of 8.61 and a beta of 0.90. Financial Institutions, Inc. has a 12 month low of $16.29 and a 12 month high of $29.14.

Financial Institutions (NASDAQ:FISI) last issued its earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. The firm had revenue of $50.12 million for the quarter. During the same quarter last year, the business posted $0.88 EPS. Research analysts expect that Financial Institutions, Inc. will post 3.6 EPS for the current year.

Financial Institutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Friday, December 13th. Financial Institutions’s dividend payout ratio (DPR) is currently 37.74%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

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.