JPMorgan Chase & Co. Has $461,000 Stake in Financial Institutions, Inc. (NASDAQ:FISI)

JPMorgan Chase & Co. increased its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 32.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,108 shares of the bank’s stock after purchasing an additional 4,461 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.12% of Financial Institutions worth $461,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FISI. Barclays PLC lifted its position in Financial Institutions by 48.4% in the 3rd quarter. Barclays PLC now owns 44,798 shares of the bank’s stock worth $1,141,000 after buying an additional 14,606 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 7,045 shares in the last quarter. XTX Topco Ltd acquired a new stake in Financial Institutions during the third quarter valued at $224,000. Zacks Investment Management purchased a new position in Financial Institutions in the third quarter valued at about $4,706,000. Finally, State Street Corp increased its position in Financial Institutions by 6.5% in the 3rd quarter. State Street Corp now owns 283,707 shares of the bank’s stock worth $7,309,000 after purchasing an additional 17,395 shares during the last quarter. 60.45% of the stock is owned by hedge funds and other institutional investors.

Financial Institutions Stock Down 0.7 %

Shares of FISI stock opened at $27.03 on Wednesday. The stock’s 50 day simple moving average is $27.09 and its 200 day simple moving average is $25.73. Financial Institutions, Inc. has a twelve month low of $16.29 and a twelve month high of $29.34. 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 company has a market capitalization of $418.15 million, a price-to-earnings ratio of 8.50 and a beta of 0.91.

Financial Institutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, December 13th. Financial Institutions’s payout ratio is 37.74%.

Analysts Set New Price Targets

A number of equities analysts recently commented on FISI shares. 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 report on Wednesday, December 4th. 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. Finally, StockNews.com lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

Insider Buying and Selling

In other news, Director Robert N. Latella bought 4,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $25.00 per share, with a total value of $100,000.00. Following the transaction, the director now directly 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.68% of the stock is owned by insiders.

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.