Curi RMB Capital LLC Invests $2.43 Million in Financial Institutions, Inc. (NASDAQ:FISI)

Curi RMB Capital LLC purchased a new stake in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 89,021 shares of the bank's stock, valued at approximately $2,429,000. Curi RMB Capital LLC owned approximately 0.58% of Financial Institutions as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. PL Capital Advisors LLC boosted its stake in Financial Institutions by 666.8% in the 4th quarter. PL Capital Advisors LLC now owns 13,583,625 shares of the bank's stock worth $370,697,000 after purchasing an additional 11,812,109 shares during the period. Dimensional Fund Advisors LP boosted its position in Financial Institutions by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 971,659 shares of the bank's stock worth $26,516,000 after acquiring an additional 14,733 shares during the period. Vanguard Group Inc. increased its holdings in shares of Financial Institutions by 13.0% in the 4th quarter. Vanguard Group Inc. now owns 925,285 shares of the bank's stock valued at $25,251,000 after purchasing an additional 106,612 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Financial Institutions in the fourth quarter worth approximately $18,294,000. Finally, American Century Companies Inc. grew its position in Financial Institutions by 38.1% during the fourth quarter. American Century Companies Inc. now owns 424,825 shares of the bank's stock valued at $11,593,000 after purchasing an additional 117,142 shares in the last quarter. Institutional investors own 60.45% of the company's stock.

Financial Institutions Stock Performance

FISI traded down $0.10 during midday trading on Friday, reaching $23.86. The company's stock had a trading volume of 93,900 shares, compared to its average volume of 182,813. Financial Institutions, Inc. has a twelve month low of $16.81 and a twelve month high of $29.78. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The stock has a market cap of $479.82 million, a P/E ratio of -16.46 and a beta of 0.68. The company has a fifty day simple moving average of $25.19 and a 200 day simple moving average of $26.21.

Financial Institutions (NASDAQ:FISI - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $0.54 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%. Research analysts expect that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 14th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 5.20%. This is an increase from Financial Institutions's previous quarterly dividend of $0.30. The ex-dividend date was Friday, March 14th. Financial Institutions's payout ratio is presently -85.52%.

Wall Street Analyst Weigh In

Several research firms have recently commented on FISI. Stephens restated an "equal weight" rating and set a $32.00 price target on shares of Financial Institutions in a report on Tuesday, March 11th. StockNews.com upgraded shares of Financial Institutions from a "sell" rating to a "hold" rating in a research note on Tuesday, February 11th. Finally, Keefe, Bruyette & Woods raised shares of Financial Institutions from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $29.00 to $34.00 in a research report on Monday, February 3rd.

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.