Proficio Capital Partners LLC acquired a new position in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,652 shares of the bank's stock, valued at approximately $318,000. Proficio Capital Partners LLC owned 0.08% of Financial Institutions at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Financial Institutions by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 124,428 shares of the bank's stock valued at $3,169,000 after acquiring an additional 417 shares during the period. FMR LLC increased its stake in Financial Institutions by 18.6% in the 3rd quarter. FMR LLC now owns 38,368 shares of the bank's stock valued at $977,000 after purchasing an additional 6,025 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Financial Institutions by 421.4% during the third quarter. BNP Paribas Financial Markets now owns 19,793 shares of the bank's stock worth $504,000 after purchasing an additional 15,997 shares during the last quarter. Fourthstone LLC purchased a new stake in Financial Institutions during the third quarter worth $518,000. Finally, Martingale Asset Management L P grew its holdings in Financial Institutions by 6.7% in the third quarter. Martingale Asset Management L P now owns 57,035 shares of the bank's stock valued at $1,453,000 after purchasing an additional 3,603 shares during the last quarter. Institutional investors and hedge funds own 60.45% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Financial Institutions from a "sell" rating to a "hold" rating in a research report on Tuesday, February 11th. Stephens reiterated an "equal weight" rating and issued a $32.00 price target on shares of Financial Institutions in a report on Tuesday, March 11th. Keefe, Bruyette & Woods raised Financial Institutions from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $29.00 to $34.00 in a research note on Monday, February 3rd. Finally, Piper Sandler initiated coverage on Financial Institutions in a research report on Friday, December 20th. They issued an "overweight" rating and a $33.00 price objective for the company.
View Our Latest Stock Report on Financial Institutions
Financial Institutions Trading Down 2.2 %
Financial Institutions stock traded down $0.56 during trading on Friday, reaching $25.00. The company had a trading volume of 110,089 shares, compared to its average volume of 88,085. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $501.95 million, a price-to-earnings ratio of -17.24 and a beta of 0.86. Financial Institutions, Inc. has a 12-month low of $16.29 and a 12-month high of $29.79. The stock's 50 day moving average price is $27.18 and its two-hundred day moving average price is $26.58.
Financial Institutions (NASDAQ:FISI - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The bank reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.20). Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. As a group, equities analysts expect that Financial Institutions, Inc. will post 3.3 earnings per share for the current fiscal year.
Financial Institutions Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 14th will be paid a $0.31 dividend. This is a positive change from Financial Institutions's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, March 14th. Financial Institutions's payout ratio is currently -85.52%.
Financial Institutions Profile
(
Free Report)
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.
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