Jane Street Group LLC Sells 461 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

Jane Street Group LLC lessened its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,089 shares of the bank’s stock after selling 461 shares during the period. Jane Street Group LLC owned approximately 0.10% of Financial Institutions worth $384,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FISI. Bank of New York Mellon Corp increased its position in Financial Institutions by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 155,257 shares of the bank’s stock worth $3,000,000 after purchasing an additional 2,653 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Financial Institutions by 25.0% during the second quarter. Victory Capital Management Inc. now owns 37,500 shares of the bank’s stock worth $724,000 after buying an additional 7,500 shares during the period. Acadian Asset Management LLC boosted its stake in Financial Institutions by 8.7% during the second 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 period. American Century Companies Inc. boosted its stake in Financial Institutions by 10.5% during the second quarter. American Century Companies Inc. now owns 267,576 shares of the bank’s stock worth $5,170,000 after buying an additional 25,439 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Financial Institutions by 9.0% during the second quarter. Renaissance Technologies LLC now owns 332,500 shares of the bank’s stock worth $6,424,000 after buying an additional 27,400 shares during the period. Institutional investors own 60.45% of the company’s stock.

Insider Buying and Selling

In other Financial Institutions news, Director Robert N. Latella acquired 4,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of $25.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the director now directly owns 16,000 shares in the company, valued at $400,000. The trade was a 33.33 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.68% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler assumed coverage on shares of Financial Institutions in a research note on Friday, December 20th. They set an “overweight” rating and a $33.00 price objective for the company. StockNews.com lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Financial Institutions from $27.00 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Financial Institutions Stock Down 0.5 %

Shares of FISI opened at $26.25 on Thursday. The firm has a market capitalization of $406.19 million, a P/E ratio of 8.25 and a beta of 0.91. Financial Institutions, Inc. has a 12-month low of $16.29 and a 12-month high of $29.34. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $26.91 and a 200-day moving average price of $24.91.

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, beating analysts’ consensus estimates of $0.76 by $0.08. The firm 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 prior year, the firm posted $0.88 earnings per share. Equities research analysts expect that Financial Institutions, Inc. will post 3.66 earnings per share for the current year.

Financial Institutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Friday, December 13th. Financial Institutions’s dividend payout ratio (DPR) is presently 37.74%.

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.