Los Angeles Capital Management LLC Takes $513,000 Position in Financial Institutions, Inc. (NASDAQ:FISI)

Los Angeles Capital Management LLC bought a new stake in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 20,160 shares of the bank's stock, valued at approximately $513,000. Los Angeles Capital Management LLC owned approximately 0.13% of Financial Institutions at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Financial Institutions by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank's stock valued at $166,000 after acquiring an additional 742 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Financial Institutions by 11.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,276 shares of the bank's stock worth $237,000 after acquiring an additional 1,216 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Financial Institutions during the 2nd quarter valued at $25,000. US Bancorp DE boosted its position in Financial Institutions by 119.3% during the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank's stock worth $66,000 after purchasing an additional 1,399 shares during the period. Finally, EMC Capital Management boosted its position in Financial Institutions by 23.0% during the 3rd quarter. EMC Capital Management now owns 8,709 shares of the bank's stock worth $222,000 after purchasing an additional 1,629 shares during the period. 60.45% of the stock is owned by hedge funds and other institutional investors.

Financial Institutions Stock Performance

Shares of NASDAQ:FISI traded down $0.21 on Friday, reaching $26.83. 29,077 shares of the company's stock were exchanged, compared to its average volume of 43,008. Financial Institutions, Inc. has a fifty-two week low of $16.29 and a fifty-two week high of $28.12. The business's 50-day moving average is $25.49 and its two-hundred day moving average is $22.45. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $415.06 million, a price-to-earnings ratio of 8.44 and a beta of 0.90.

Financial Institutions (NASDAQ:FISI - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. The firm had revenue of $50.12 million for the quarter. During the same period in the prior year, the business earned $0.88 EPS. As a group, equities research analysts forecast that Financial Institutions, Inc. will post 3.6 EPS for the current year.

Financial Institutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Friday, September 13th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.47%. The ex-dividend date was Friday, September 13th. Financial Institutions's dividend payout ratio (DPR) is 37.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. StockNews.com lowered Financial Institutions from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $25.00 target price (up from $20.00) on shares of Financial Institutions in a research report on Monday, July 29th.

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.