Stieven Capital Advisors L.P. Invests $6.14 Million in Financial Institutions, Inc. (NASDAQ:FISI)

Stieven Capital Advisors L.P. purchased a new position in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 225,000 shares of the bank's stock, valued at approximately $6,140,000. Stieven Capital Advisors L.P. owned 1.45% of Financial Institutions at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Financial Institutions in the 4th quarter worth approximately $30,000. US Bancorp DE lifted its stake 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 purchasing an additional 1,399 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Financial Institutions during the third quarter valued at approximately $164,000. CWM LLC lifted its stake in Financial Institutions by 50.3% during the third quarter. CWM LLC now owns 8,172 shares of the bank's stock valued at $208,000 after purchasing an additional 2,734 shares during the last quarter. Finally, Stonebrook Private Inc. acquired a new stake in Financial Institutions during the third quarter valued at approximately $218,000. 60.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FISI has been the subject of several recent research reports. Stephens reissued an "equal weight" rating and set a $33.00 target price on shares of Financial Institutions in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised shares of Financial Institutions from a "market perform" rating to an "outperform" rating and increased their target price for the company from $29.00 to $34.00 in a research note on Monday, February 3rd. StockNews.com upgraded shares of Financial Institutions from a "sell" rating to a "hold" rating in a report on Tuesday, February 11th. Finally, Piper Sandler started coverage on shares of Financial Institutions in a report on Friday, December 20th. They set an "overweight" rating and a $33.00 price target on the stock.

Financial Institutions Trading Up 0.2 %

Shares of FISI stock traded up $0.07 during trading hours on Wednesday, reaching $29.63. 169,005 shares of the stock traded hands, compared to its average volume of 144,761. Financial Institutions, Inc. has a 1-year low of $16.29 and a 1-year high of $29.79. The business has a fifty day moving average price of $27.30 and a 200 day moving average price of $26.11. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $458.38 million, a PE ratio of -20.43 and a beta of 0.90.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.20). Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. On average, equities research analysts forecast that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 14th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Financial Institutions's previous quarterly dividend of $0.30. Financial Institutions's dividend payout ratio is currently -82.76%.

Insider Buying and Selling at Financial Institutions

In related news, Director Robert N. Latella acquired 4,000 shares of the company's stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the purchase, the director now owns 16,000 shares in the company, valued at $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 link. Company insiders own 2.68% of the company's stock.

Financial Institutions 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.