Hotchkis & Wiley Capital Management LLC cut its stake in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 11.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 145,058 shares of the bank's stock after selling 19,550 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.94% of Financial Institutions worth $3,695,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in shares of Financial Institutions during the 3rd quarter valued at $513,000. Segall Bryant & Hamill LLC acquired a new stake in Financial Institutions during the third quarter worth about $1,364,000. AQR Capital Management LLC raised its holdings in shares of Financial Institutions by 147.3% in the 2nd quarter. AQR Capital Management LLC now owns 63,213 shares of the bank's stock worth $1,221,000 after purchasing an additional 37,653 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Financial Institutions by 8.7% during the 2nd quarter. Acadian Asset Management LLC now owns 324,263 shares of the bank's stock worth $6,263,000 after purchasing an additional 25,865 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Financial Institutions by 32.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,559 shares of the bank's stock valued at $2,485,000 after buying an additional 23,885 shares in the last quarter. Institutional investors and hedge funds own 60.45% of the company's stock.
Financial Institutions Stock Up 0.1 %
FISI stock traded up $0.02 during trading on Friday, reaching $26.73. The stock had a trading volume of 32,051 shares, compared to its average volume of 50,207. Financial Institutions, Inc. has a 1-year low of $16.29 and a 1-year high of $29.14. The company has a market capitalization of $413.51 million, a P/E ratio of 8.41 and a beta of 0.92. 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 firm has a fifty day moving average price of $25.91 and a 200 day moving average price of $23.27.
Financial Institutions (NASDAQ:FISI - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $50.12 million for the quarter. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, equities analysts anticipate that Financial Institutions, Inc. will post 3.6 earnings per share for the current 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 paid 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 4.49%. Financial Institutions's payout ratio is currently 37.74%.
Wall Street Analysts Forecast Growth
Several research firms have commented on FISI. Keefe, Bruyette & Woods raised their price objective on Financial Institutions from $27.00 to $28.00 and gave the company a "market perform" rating in a research report on Wednesday. StockNews.com downgraded Financial Institutions from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd.
Check Out Our Latest Stock Report on Financial Institutions
Financial Institutions Profile
(
Free Report)
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.
Recommended Stories
Before you consider Financial Institutions, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Financial Institutions wasn't on the list.
While Financial Institutions currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
