Financial Institutions, Inc. (NASDAQ:FISI) Shares Bought by Fmr LLC

Fmr LLC raised its stake in Financial Institutions, Inc. (NASDAQ:FISI) by 18.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,368 shares of the bank’s stock after buying an additional 6,025 shares during the quarter. Fmr LLC owned approximately 0.25% of Financial Institutions worth $977,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in shares of Financial Institutions in the third quarter valued at about $513,000. Segall Bryant & Hamill LLC acquired a new position in Financial Institutions in the 3rd quarter valued at about $1,364,000. AQR Capital Management LLC grew its stake in shares of Financial Institutions by 147.3% in the 2nd quarter. AQR Capital Management LLC now owns 63,213 shares of the bank’s stock valued at $1,221,000 after buying an additional 37,653 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Financial Institutions by 8.7% during the 2nd quarter. Acadian Asset Management LLC now owns 324,263 shares of the bank’s stock worth $6,263,000 after buying an additional 25,865 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Financial Institutions by 32.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,559 shares of the bank’s stock valued at $2,485,000 after buying an additional 23,885 shares during the period. 60.45% of the stock is owned by institutional investors and hedge funds.

Financial Institutions Stock Performance

Shares of FISI stock opened at $28.92 on Tuesday. Financial Institutions, Inc. has a one year low of $16.29 and a one year high of $29.14. 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’s 50 day moving average price is $26.23 and its 200-day moving average price is $23.74. The firm has a market cap of $447.51 million, a P/E ratio of 9.09 and a beta of 0.92.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $50.12 million during the quarter. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. During the same quarter in the prior year, the business earned $0.88 earnings per share. As a group, equities research analysts predict that Financial Institutions, Inc. will post 3.66 EPS for the current year.

Financial Institutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 4.15%. Financial Institutions’s dividend payout ratio (DPR) is presently 37.74%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Financial Institutions from $27.00 to $28.00 and gave the stock 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 research note on Tuesday, December 10th.

Insider Transactions at Financial Institutions

In related news, Director Robert N. Latella acquired 4,000 shares of Financial Institutions stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the purchase, the director now owns 16,000 shares in the company, valued at approximately $400,000. The trade was a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.68% of the company’s stock.

Financial Institutions 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.