35,000 Shares in Financial Institutions, Inc. (NASDAQ:FISI) Acquired by Kennedy Capital Management LLC

Kennedy Capital Management LLC acquired a new position in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,000 shares of the bank's stock, valued at approximately $955,000. Kennedy Capital Management LLC owned approximately 0.23% of Financial Institutions as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FISI. FMR LLC raised its stake in shares of Financial Institutions by 18.6% during the 3rd quarter. FMR LLC now owns 38,368 shares of the bank's stock worth $977,000 after purchasing an additional 6,025 shares in the last quarter. State Street Corp lifted its holdings in Financial Institutions by 6.5% during the 3rd quarter. State Street Corp now owns 283,707 shares of the bank's stock worth $7,309,000 after purchasing an additional 17,395 shares during the last quarter. XTX Topco Ltd bought a new position in Financial Institutions during the 3rd quarter worth $224,000. Barclays PLC raised its stake in Financial Institutions by 48.4% in the 3rd quarter. Barclays PLC now owns 44,798 shares of the bank's stock worth $1,141,000 after purchasing an additional 14,606 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Financial Institutions by 2.0% during the 3rd 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. Institutional investors own 60.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FISI. Piper Sandler started coverage on Financial Institutions in a report on Friday, December 20th. They set an "overweight" rating and a $33.00 target price on the stock. Keefe, Bruyette & Woods raised shares of Financial Institutions from a "market perform" rating to an "outperform" rating and raised their target price for the company from $29.00 to $34.00 in a report on Monday, February 3rd. StockNews.com raised shares of Financial Institutions from a "sell" rating to a "hold" rating in a report on Tuesday, February 11th. Finally, Stephens reissued an "equal weight" rating and issued a $32.00 price objective on shares of Financial Institutions in a research note on Tuesday, March 11th.

Financial Institutions Price Performance

NASDAQ:FISI traded down $0.11 on Friday, hitting $22.35. The company had a trading volume of 241,152 shares, compared to its average volume of 97,949. 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 $16.39 and a 52 week high of $29.79. The stock has a market capitalization of $448.74 million, a price-to-earnings ratio of -15.41 and a beta of 0.68. The firm has a 50 day moving average of $25.61 and a two-hundred day moving average of $26.24.

Financial Institutions (NASDAQ:FISI - Get Free Report) last posted its earnings results on Thursday, January 30th. The bank reported $0.54 EPS for the quarter, missing the consensus estimate 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, research analysts anticipate that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Increases Dividend

The firm also recently announced 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 5.55%. This is a positive change 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%.

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.