Financial Institutions, Inc. (NASDAQ:FISI) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 25.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,500 shares of the bank’s stock after purchasing an additional 7,500 shares during the quarter. Victory Capital Management Inc. owned about 0.24% of Financial Institutions worth $724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in Financial Institutions by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock worth $166,000 after acquiring an additional 742 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Financial Institutions by 11.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,276 shares of the bank’s stock worth $237,000 after purchasing an additional 1,216 shares in the last quarter. Innealta Capital LLC purchased a new stake in Financial Institutions during the 2nd quarter worth approximately $25,000. Bank of New York Mellon Corp increased its stake in Financial Institutions by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 155,257 shares of the bank’s stock valued at $3,000,000 after purchasing an additional 2,653 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Financial Institutions by 150.4% in the second quarter. CWM LLC now owns 5,438 shares of the bank’s stock worth $105,000 after buying an additional 3,266 shares during the last quarter. 60.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $25.00 price objective (up from $20.00) on shares of Financial Institutions in a report on Monday, July 29th. StockNews.com upgraded Financial Institutions from a “hold” rating to a “buy” rating in a research note on Saturday.

Financial Institutions Stock Performance

FISI opened at $26.40 on Friday. The firm has a 50 day moving average of $24.57 and a two-hundred day moving average of $20.35. The firm has a market capitalization of $407.80 million, a PE ratio of 10.52 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Financial Institutions, Inc. has a 12-month low of $15.22 and a 12-month high of $27.75.

Financial Institutions (NASDAQ:FISI) last issued its earnings results on Thursday, July 25th. The bank reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.92. Financial Institutions had a net margin of 13.95% and a return on equity of 12.06%. The firm had revenue of $102.80 million during the quarter. During the same period last year, the business earned $0.91 EPS. On average, analysts anticipate that Financial Institutions, Inc. will post 3.64 EPS for the current year.

Financial Institutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Friday, September 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.20 annualized dividend and a dividend yield of 4.55%. Financial Institutions’s dividend payout ratio (DPR) is presently 47.81%.

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.