JPMorgan Chase & Co. Has $1.68 Million Stock Holdings in Financial Institutions, Inc. (NASDAQ:FISI)

JPMorgan Chase & Co. grew its holdings in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 239.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,484 shares of the bank's stock after purchasing an additional 43,376 shares during the period. JPMorgan Chase & Co. owned approximately 0.40% of Financial Institutions worth $1,678,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FISI. PL Capital Advisors LLC boosted its holdings in shares of Financial Institutions by 666.8% in the fourth quarter. PL Capital Advisors LLC now owns 13,583,625 shares of the bank's stock valued at $370,697,000 after acquiring an additional 11,812,109 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Financial Institutions by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 925,285 shares of the bank's stock valued at $25,251,000 after buying an additional 106,612 shares during the period. American Century Companies Inc. boosted its stake 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 buying an additional 117,142 shares in the last quarter. Geode Capital Management LLC grew its holdings in Financial Institutions by 2.0% during the third quarter. Geode Capital Management LLC now owns 354,685 shares of the bank's stock worth $9,036,000 after acquiring an additional 7,045 shares during the period. Finally, Courier Capital LLC raised its position in Financial Institutions by 0.5% in the fourth quarter. Courier Capital LLC now owns 352,126 shares of the bank's stock worth $9,610,000 after acquiring an additional 1,887 shares in the last quarter. Institutional investors and hedge funds own 60.45% of the company's stock.

Analysts Set New Price Targets

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

Financial Institutions Trading Up 5.8 %

NASDAQ FISI traded up $1.39 on Tuesday, hitting $25.45. 342,434 shares of the stock were exchanged, compared to its average volume of 100,961. The company's 50-day moving average price is $24.97 and its two-hundred day moving average price is $26.22. The company has a market capitalization of $511.80 million, a price-to-earnings ratio of -17.55 and a beta of 0.68. Financial Institutions, Inc. has a 52-week low of $16.81 and a 52-week high of $29.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86.

Financial Institutions (NASDAQ:FISI - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The bank reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.07. The business had revenue of $57.24 million for the quarter, compared to the consensus estimate of $57.14 million. Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. Research analysts predict that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 14th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.87%. This is a positive change from Financial Institutions's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, March 14th. Financial Institutions's dividend payout ratio is -85.52%.

About Financial Institutions

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.