PL Capital Advisors LLC Has $45.12 Million Stock Position in Financial Institutions, Inc. (NASDAQ:FISI)

PL Capital Advisors LLC increased its stake in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 408.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,771,516 shares of the bank's stock after acquiring an additional 1,422,765 shares during the period. Financial Institutions comprises approximately 15.2% of PL Capital Advisors LLC's portfolio, making the stock its largest position. PL Capital Advisors LLC owned about 11.47% of Financial Institutions worth $45,121,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Financial Institutions in the 2nd quarter worth approximately $25,000. US Bancorp DE boosted its position in Financial Institutions by 119.3% during the third quarter. US Bancorp DE now owns 2,572 shares of the bank's stock valued at $66,000 after buying an additional 1,399 shares during the period. Lazard Asset Management LLC bought a new position in shares of Financial Institutions during the first quarter valued at about $98,000. CWM LLC grew 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 buying an additional 3,266 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Financial Institutions in the third quarter worth about $164,000. Institutional investors own 60.45% of the company's stock.

Analyst Upgrades and Downgrades

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

Financial Institutions Trading Down 0.7 %

Shares of NASDAQ FISI traded down $0.17 during trading hours on Friday, hitting $23.84. The company's stock had a trading volume of 30,239 shares, compared to its average volume of 31,553. Financial Institutions, Inc. has a 12 month low of $16.03 and a 12 month high of $27.75. The stock has a market cap of $368.33 million, a price-to-earnings ratio of 7.50 and a beta of 0.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.86. The business has a 50-day simple moving average of $25.25 and a 200-day simple moving average of $21.79.

Financial Institutions (NASDAQ:FISI - Get Free Report) last posted its earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. Financial Institutions had a return on equity of 11.61% and a net margin of 13.72%. The firm had revenue of $50.12 million for the quarter. During the same period last year, the firm posted $0.88 earnings per share. On average, analysts anticipate that Financial Institutions, Inc. will post 3.64 earnings per share for the current fiscal year.

Financial Institutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Friday, September 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend was Friday, September 13th. Financial Institutions's payout ratio is 37.74%.

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.