Thrivent Financial for Lutherans Trims Position in Financial Institutions, Inc. (NASDAQ:FISI)

Thrivent Financial for Lutherans decreased its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 21.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,288 shares of the bank’s stock after selling 13,969 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.33% of Financial Institutions worth $1,281,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Financial Institutions during the second quarter valued at $25,000. US Bancorp DE grew its holdings in Financial Institutions by 119.3% during the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock worth $66,000 after acquiring an additional 1,399 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Financial Institutions during the 1st quarter valued at about $98,000. CWM LLC raised its holdings in shares of Financial Institutions by 150.4% in the 2nd quarter. CWM LLC now owns 5,438 shares of the bank’s stock valued at $105,000 after purchasing an additional 3,266 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Financial Institutions in the 3rd quarter worth approximately $164,000. 60.45% of the stock is owned by hedge funds and other institutional investors.

Financial Institutions Trading Up 0.9 %

Shares of NASDAQ FISI opened at $27.16 on Monday. Financial Institutions, Inc. has a 1-year low of $16.29 and a 1-year high of $29.14. The business has a fifty day moving average price of $25.78 and a 200 day moving average price of $23.11. The stock has a market capitalization of $420.17 million, a P/E ratio of 8.54 and a beta of 0.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86.

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

Financial Institutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date is Friday, December 13th. Financial Institutions’s payout ratio is presently 37.74%.

Wall Street Analysts Forecast Growth

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

Financial Institutions Company Profile

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.