Financial Institutions, Inc. (NASDAQ:FISI - Get Free Report) Director Robert N. Latella acquired 4,000 shares of the stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $25.00 per share, with a total value of $100,000.00. Following the transaction, the director now directly owns 16,000 shares in the company, valued at approximately $400,000. This represents a 33.33 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Financial Institutions Stock Performance
NASDAQ FISI traded up $0.06 on Monday, hitting $28.92. 99,034 shares of the company's stock traded hands, compared to its average volume of 56,038. The firm has a market capitalization of $447.51 million, a PE ratio of 9.09 and a beta of 0.92. The firm's 50-day moving average price is $26.23 and its two-hundred day moving average price is $23.74. Financial Institutions, Inc. has a 1-year low of $16.29 and a 1-year high of $29.14. 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 (NASDAQ:FISI - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $50.12 million for the quarter. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, analysts expect that Financial Institutions, Inc. will post 3.66 EPS for the current year.
Financial Institutions Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, December 13th. Financial Institutions's dividend payout ratio is currently 37.74%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. PL Capital Advisors LLC lifted its position in shares of Financial Institutions by 408.0% during the 3rd quarter. PL Capital Advisors LLC now owns 1,771,516 shares of the bank's stock valued at $45,121,000 after buying an additional 1,422,765 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 7,045 shares during the last quarter. Courier Capital LLC raised its position in shares of Financial Institutions by 2.4% during the 3rd quarter. Courier Capital LLC now owns 350,239 shares of the bank's stock worth $8,921,000 after purchasing an additional 8,064 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Financial Institutions by 9.0% in the 2nd quarter. Renaissance Technologies LLC now owns 332,500 shares of the bank's stock worth $6,424,000 after buying an additional 27,400 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Financial Institutions by 8.7% in the 2nd quarter. Acadian Asset Management LLC now owns 324,263 shares of the bank's stock worth $6,263,000 after buying an additional 25,865 shares during the last quarter. Hedge funds and other institutional investors own 60.45% of the company's stock.
Wall Street Analyst Weigh In
FISI has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Financial Institutions from a "hold" rating to a "buy" rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods upped their target price on Financial Institutions from $27.00 to $28.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th.
Read Our Latest Report on Financial Institutions
About Financial Institutions
(
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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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