Fourthstone LLC Has $8.69 Million Position in Financial Institutions, Inc. (NASDAQ:FISI)

Fourthstone LLC boosted its stake in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 1,463.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 318,254 shares of the bank's stock after buying an additional 297,904 shares during the period. Financial Institutions makes up 1.7% of Fourthstone LLC's portfolio, making the stock its 19th largest holding. Fourthstone LLC owned 2.06% of Financial Institutions worth $8,685,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of FISI. PL Capital Advisors LLC raised its stake in Financial Institutions by 666.8% during the fourth quarter. PL Capital Advisors LLC now owns 13,583,625 shares of the bank's stock worth $370,697,000 after buying an additional 11,812,109 shares during the last quarter. Wellington Management Group LLP purchased a new position in Financial Institutions during the 4th quarter valued at about $18,294,000. Stieven Capital Advisors L.P. bought a new position in Financial Institutions in the 4th quarter worth about $6,140,000. Alliancebernstein L.P. increased its holdings in shares of Financial Institutions by 1,409.9% in the 4th quarter. Alliancebernstein L.P. now owns 231,010 shares of the bank's stock worth $6,304,000 after buying an additional 215,710 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Financial Institutions by 38.1% in the 4th quarter. American Century Companies Inc. now owns 424,825 shares of the bank's stock worth $11,593,000 after purchasing an additional 117,142 shares in the last quarter. Institutional investors and hedge funds own 60.45% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on FISI shares. Stephens restated an "equal weight" rating and issued a $32.00 price objective on shares of Financial Institutions in a report on Tuesday, March 11th. Keefe, Bruyette & Woods raised Financial Institutions from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $29.00 to $34.00 in a research report on Monday, February 3rd. 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 Up 3.5 %

NASDAQ:FISI traded up $0.77 during trading hours on Tuesday, hitting $23.06. The company's stock had a trading volume of 28,413 shares, compared to its average volume of 98,081. 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 52-week low of $16.81 and a 52-week high of $29.79. The stock has a fifty day moving average of $25.50 and a 200-day moving average of $26.25. The stock has a market capitalization of $463.74 million, a P/E ratio of -15.92 and a beta of 0.68.

Financial Institutions (NASDAQ:FISI - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $0.54 earnings per share 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 forecast 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 was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 14th were given a $0.31 dividend. This is an increase from Financial Institutions's previous quarterly dividend of $0.30. The ex-dividend date was Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 5.38%. Financial Institutions's dividend payout ratio is presently -85.52%.

Financial Institutions Company 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.