Financial Institutions, Inc. (NASDAQ:FISI) Shares Bought by Barclays PLC

Barclays PLC lifted its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 48.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,798 shares of the bank’s stock after buying an additional 14,606 shares during the quarter. Barclays PLC owned 0.29% of Financial Institutions worth $1,141,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FISI. PL Capital Advisors LLC lifted its position in shares of Financial Institutions by 408.0% during the 3rd quarter. PL Capital Advisors LLC now owns 1,771,516 shares of the bank’s stock valued at $45,121,000 after acquiring an additional 1,422,765 shares during the period. Geode Capital Management LLC boosted its position in Financial Institutions by 2.0% during the third quarter. Geode Capital Management LLC now owns 354,685 shares of the bank’s stock worth $9,036,000 after purchasing an additional 7,045 shares in the last quarter. Courier Capital LLC grew its holdings in Financial Institutions by 2.4% in the third quarter. Courier Capital LLC now owns 350,239 shares of the bank’s stock valued at $8,921,000 after purchasing an additional 8,064 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Financial Institutions by 9.0% in the second quarter. Renaissance Technologies LLC now owns 332,500 shares of the bank’s stock valued at $6,424,000 after buying an additional 27,400 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Financial Institutions by 6.5% during the 3rd quarter. State Street Corp now owns 283,707 shares of the bank’s stock worth $7,309,000 after buying an additional 17,395 shares during the last quarter. Institutional investors and hedge funds own 60.45% of the company’s stock.

Insider Transactions at Financial Institutions

In related news, Director Robert N. Latella purchased 4,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the transaction, the director now owns 16,000 shares of the company’s stock, valued at $400,000. This represents a 33.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FISI. StockNews.com cut Financial Institutions from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Keefe, Bruyette & Woods upped their target price on shares of Financial Institutions from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler started coverage on shares of Financial Institutions in a research note on Friday, December 20th. They set an “overweight” rating and a $33.00 price target on the stock.

Financial Institutions Trading Up 0.5 %

Shares of FISI opened at $25.80 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. Financial Institutions, Inc. has a one year low of $16.29 and a one year high of $29.34. The stock has a 50-day moving average price of $27.06 and a 200 day moving average price of $25.14. The company has a market capitalization of $399.23 million, a P/E ratio of 8.11 and a beta of 0.91.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 during the quarter. During the same period in the prior year, the firm earned $0.88 earnings per share. Sell-side analysts forecast that Financial Institutions, Inc. will post 3.66 EPS for the current fiscal year.

Financial Institutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Friday, December 13th. Financial Institutions’s dividend payout ratio (DPR) is 37.74%.

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.