Financial Institutions, Inc. (NASDAQ:FISI) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 124,428 shares of the bank’s stock after purchasing an additional 417 shares during the period. Charles Schwab Investment Management Inc. owned 0.80% of Financial Institutions worth $3,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Financial Institutions by 11.0% in the second 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 period. Innealta Capital LLC acquired a new position in shares of Financial Institutions during the second quarter worth $25,000. US Bancorp DE boosted its stake in shares of Financial Institutions by 119.3% in the third quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock valued at $66,000 after purchasing an additional 1,399 shares during the period. EMC Capital Management grew its holdings in Financial Institutions by 23.0% during the 3rd quarter. EMC Capital Management now owns 8,709 shares of the bank’s stock valued at $222,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Financial Institutions by 23.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,837 shares of the bank’s stock worth $209,000 after buying an additional 2,026 shares during the period. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Financial Institutions from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised Financial Institutions from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th.

Financial Institutions Trading Up 1.4 %

NASDAQ FISI opened at $28.86 on Friday. The company has a market capitalization of $446.46 million, a price-to-earnings ratio of 9.08 and a beta of 0.92. 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, Inc. has a 12 month low of $16.29 and a 12 month high of $29.14. The company’s fifty day moving average price is $26.23 and its two-hundred day moving average price is $23.69.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 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 business had revenue of $50.12 million during the quarter. During the same quarter last year, the business posted $0.88 earnings per share. As a group, research analysts predict that Financial Institutions, Inc. will post 3.66 earnings per share for the current fiscal year.

Financial Institutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Friday, December 13th. Financial Institutions’s dividend payout ratio is currently 37.74%.

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.