Segall Bryant & Hamill LLC Invests $1.36 Million in Financial Institutions, Inc. (NASDAQ:FISI)

Segall Bryant & Hamill LLC bought a new position in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,556 shares of the bank's stock, valued at approximately $1,364,000. Segall Bryant & Hamill LLC owned about 0.35% of Financial Institutions as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Innealta Capital LLC acquired a new position in Financial Institutions during the 2nd quarter worth $25,000. US Bancorp DE boosted its holdings in Financial Institutions by 119.3% in the third quarter. US Bancorp DE now owns 2,572 shares of the bank's stock valued at $66,000 after acquiring an additional 1,399 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Financial Institutions in the first quarter worth about $98,000. CWM LLC increased its position in Financial Institutions by 150.4% in the second quarter. CWM LLC now owns 5,438 shares of the bank's stock worth $105,000 after purchasing an additional 3,266 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Financial Institutions during the 3rd quarter worth about $164,000. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Financial Institutions Trading Up 1.6 %

Shares of Financial Institutions stock traded up $0.44 during trading on Friday, hitting $27.90. 42,867 shares of the company were exchanged, compared to its average volume of 43,106. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $431.61 million, a P/E ratio of 8.77 and a beta of 0.90. The firm's fifty day moving average price is $25.67 and its 200 day moving average price is $22.77. Financial Institutions, Inc. has a 1-year low of $16.29 and a 1-year high of $28.14.

Financial Institutions (NASDAQ:FISI - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $50.12 million during the quarter. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. During the same period in the previous year, the company posted $0.88 EPS. As a group, sell-side analysts expect that Financial Institutions, Inc. will post 3.6 earnings per share for the current fiscal year.

Financial Institutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 4.30%. Financial Institutions's dividend payout ratio is presently 37.74%.

Analyst Ratings Changes

FISI has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $25.00 target price (up previously from $20.00) on shares of Financial Institutions in a research note on Monday, July 29th. StockNews.com cut shares of Financial Institutions from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd.

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.