Dimensional Fund Advisors LP Lowers Position in Financial Institutions, Inc. (NASDAQ:FISI)

Dimensional Fund Advisors LP cut its holdings in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 5.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 968,175 shares of the bank's stock after selling 55,159 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.27% of Financial Institutions worth $18,704,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FISI. Acadian Asset Management LLC boosted its stake in shares of Financial Institutions by 8.7% during the second quarter. Acadian Asset Management LLC now owns 324,263 shares of the bank's stock valued at $6,263,000 after purchasing an additional 25,865 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Financial Institutions by 2.1% during the first quarter. Vanguard Group Inc. now owns 784,928 shares of the bank's stock valued at $14,772,000 after purchasing an additional 16,462 shares in the last quarter. CWM LLC boosted its stake in shares of Financial Institutions by 150.4% during the second quarter. CWM LLC now owns 5,438 shares of the bank's stock valued at $105,000 after purchasing an additional 3,266 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Financial Institutions by 8.1% during the first quarter. Empowered Funds LLC now owns 58,600 shares of the bank's stock valued at $1,103,000 after purchasing an additional 4,375 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its stake in shares of Financial Institutions by 35.6% during the fourth quarter. Quadrature Capital Ltd now owns 31,260 shares of the bank's stock valued at $666,000 after purchasing an additional 8,206 shares in the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.

Financial Institutions Trading Up 1.5 %

NASDAQ:FISI traded up $0.37 on Friday, reaching $24.77. 35,280 shares of the stock traded hands, compared to its average volume of 51,928. The firm has a market capitalization of $382.62 million, a price-to-earnings ratio of 9.87 and a beta of 0.89. The company's 50 day moving average is $24.93 and its 200-day moving average is $20.78. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Financial Institutions, Inc. has a 1-year low of $15.22 and a 1-year high of $27.75.

Financial Institutions (NASDAQ:FISI - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.92. The firm had revenue of $102.80 million for the quarter. Financial Institutions had a return on equity of 12.06% and a net margin of 13.95%. During the same quarter in the previous year, the company posted $0.91 earnings per share. Equities research analysts anticipate that Financial Institutions, Inc. will post 3.64 EPS for the current fiscal year.

Financial Institutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Friday, September 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Friday, September 13th. Financial Institutions's payout ratio is 47.81%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FISI shares. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $25.00 price target (up from $20.00) on shares of Financial Institutions in a research note on Monday, July 29th. StockNews.com lowered Financial Institutions from a "buy" rating to a "hold" rating in a research note on Wednesday.

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.