Financial Institutions, Inc. (NASDAQ:FISI) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 32.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 97,559 shares of the bank's stock after buying an additional 23,885 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.63% of Financial Institutions worth $2,485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its position in shares of Financial Institutions by 11.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,276 shares of the bank's stock worth $237,000 after buying an additional 1,216 shares during the period. Innealta Capital LLC purchased a new position in Financial Institutions in the 2nd quarter worth approximately $25,000. US Bancorp DE boosted its holdings in Financial Institutions by 119.3% in the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank's stock worth $66,000 after acquiring an additional 1,399 shares during the period. EMC Capital Management grew its position in Financial Institutions by 23.0% in the third quarter. EMC Capital Management now owns 8,709 shares of the bank's stock valued at $222,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Financial Institutions by 23.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,837 shares of the bank's stock valued at $209,000 after purchasing an additional 2,026 shares during the period. 60.45% of the stock is owned by institutional investors and hedge funds.

Financial Institutions Stock Up 1.1 %

FISI stock traded up $0.31 during mid-day trading on Monday, hitting $28.21. 59,331 shares of the company were exchanged, compared to its average volume of 49,866. The company has a market capitalization of $436.52 million, a PE ratio of 8.99 and a beta of 0.90. The firm has a fifty day simple moving average of $25.67 and a 200 day simple moving average of $22.80. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. Financial Institutions, Inc. has a twelve month low of $16.29 and a twelve month high of $29.14.

Financial Institutions (NASDAQ:FISI - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. The business had revenue of $50.12 million during the quarter. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. During the same quarter last year, the firm posted $0.88 earnings per share. On average, research analysts forecast that Financial Institutions, Inc. will post 3.6 earnings per share for the current fiscal year.

Financial Institutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 4.25%. Financial Institutions's dividend payout ratio is currently 37.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $25.00 price target (up from $20.00) on shares of Financial Institutions in a report on Monday, July 29th. StockNews.com downgraded Financial Institutions from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd.

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.