PL Capital Advisors LLC Sells 1,273,765 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

PL Capital Advisors LLC lessened its holdings in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 71.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 497,751 shares of the bank's stock after selling 1,273,765 shares during the quarter. Financial Institutions makes up about 4.6% of PL Capital Advisors LLC's holdings, making the stock its 8th largest position. PL Capital Advisors LLC owned 3.22% of Financial Institutions worth $13,584,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Financial Institutions by 2.0% in the third quarter. Geode Capital Management LLC now owns 354,685 shares of the bank's stock valued at $9,036,000 after buying an additional 7,045 shares during the last quarter. Courier Capital LLC boosted its stake in Financial Institutions by 0.5% in the fourth quarter. Courier Capital LLC now owns 352,126 shares of the bank's stock valued at $9,610,000 after acquiring an additional 1,887 shares in the last quarter. State Street Corp boosted its stake in Financial Institutions by 6.5% in the third quarter. State Street Corp now owns 283,707 shares of the bank's stock valued at $7,309,000 after acquiring an additional 17,395 shares in the last quarter. Stieven Capital Advisors L.P. acquired a new position in Financial Institutions in the fourth quarter valued at $6,140,000. Finally, Zacks Investment Management acquired a new position in Financial Institutions in the third quarter valued at $4,706,000. Hedge funds and other institutional investors own 60.45% of the company's stock.

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Analyst Ratings Changes

FISI has been the subject of several research analyst reports. Keefe, Bruyette & Woods upgraded shares of Financial Institutions from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $29.00 to $34.00 in a research note on Monday, February 3rd. Stephens restated an "equal weight" rating and issued a $33.00 price objective on shares of Financial Institutions in a research note on Friday, January 31st. Piper Sandler initiated coverage on shares of Financial Institutions in a research note on Friday, December 20th. They issued an "overweight" rating and a $33.00 price objective for the company. Finally, StockNews.com upgraded shares of Financial Institutions from a "sell" rating to a "hold" rating in a research note on Tuesday, February 11th.

Financial Institutions Stock Performance

Shares of FISI traded up $0.29 during mid-day trading on Friday, hitting $28.02. 112,359 shares of the company's stock were exchanged, compared to its average volume of 147,350. Financial Institutions, Inc. has a fifty-two week low of $16.29 and a fifty-two week high of $29.78. The firm has a market capitalization of $433.58 million, a P/E ratio of -19.32 and a beta of 0.90. The business's 50 day moving average is $27.45 and its two-hundred day moving average is $26.41. 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 (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%. On average, equities 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 announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 14th will be issued a $0.31 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Financial Institutions's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 4.43%. Financial Institutions's dividend payout ratio (DPR) is -85.52%.

Insider Buying and Selling at Financial Institutions

In other Financial Institutions news, Director Robert N. Latella acquired 4,000 shares of the company's stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $25.00 per share, with a total value of $100,000.00. Following the purchase, the director now directly owns 16,000 shares in the company, valued at approximately $400,000. This trade represents a 33.33 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 2.68% of the stock is currently owned by corporate insiders.

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.