American Century Companies Inc. Acquires 117,142 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

American Century Companies Inc. raised its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 38.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 424,825 shares of the bank's stock after purchasing an additional 117,142 shares during the period. American Century Companies Inc. owned 2.75% of Financial Institutions worth $11,593,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FISI. R Squared Ltd bought a new position in shares of Financial Institutions during the fourth quarter worth about $30,000. Picton Mahoney Asset Management raised its stake in Financial Institutions by 45.5% during the fourth quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock worth $32,000 after buying an additional 374 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Financial Institutions by 14.9% in the fourth quarter. SG Americas Securities LLC now owns 7,418 shares of the bank's stock valued at $202,000 after buying an additional 964 shares during the period. XTX Topco Ltd bought a new stake in Financial Institutions during the third quarter valued at $224,000. Finally, Proficio Capital Partners LLC acquired a new stake in Financial Institutions during the 4th quarter worth about $318,000. Institutional investors own 60.45% of the company's stock.

Financial Institutions Stock Down 1.7 %

FISI stock traded down $0.39 during midday trading on Friday, reaching $22.12. 338,948 shares of the company's stock traded hands, compared to its average volume of 91,451. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm's fifty day moving average price is $26.87 and its 200-day moving average price is $26.53. Financial Institutions, Inc. has a 52 week low of $16.29 and a 52 week high of $29.79. The company has a market cap of $444.13 million, a price-to-earnings ratio of -15.26 and a beta of 0.68.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.20). Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. As a group, sell-side analysts forecast that Financial Institutions, Inc. will post 3.3 earnings per share for the current fiscal year.

Financial Institutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 14th were given a $0.31 dividend. This is a positive change from Financial Institutions's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date was Friday, March 14th. Financial Institutions's dividend payout ratio is presently -85.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FISI shares. Piper Sandler started coverage on Financial Institutions in a research report on Friday, December 20th. They set an "overweight" rating and a $33.00 target price on the stock. Stephens reaffirmed an "equal weight" rating and set a $32.00 price objective on shares of Financial Institutions in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods upgraded shares of Financial Institutions from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $29.00 to $34.00 in a research note on Monday, February 3rd. Finally, StockNews.com raised shares of Financial Institutions from a "sell" rating to a "hold" rating in a research report on Tuesday, February 11th.

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.