Vanguard Group Inc. lifted its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 925,285 shares of the bank's stock after purchasing an additional 106,612 shares during the quarter. Vanguard Group Inc. owned about 5.98% of Financial Institutions worth $25,251,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in FISI. R Squared Ltd acquired a new position in Financial Institutions during the fourth quarter worth about $30,000. Picton Mahoney Asset Management grew its holdings in shares of Financial Institutions by 45.5% in the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock worth $32,000 after acquiring an additional 374 shares during the period. SG Americas Securities LLC increased its stake in Financial Institutions by 14.9% in the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank's stock valued at $202,000 after purchasing an additional 964 shares in the last quarter. XTX Topco Ltd acquired a new position in Financial Institutions during the third quarter worth $224,000. Finally, Proficio Capital Partners LLC purchased a new stake in Financial Institutions during the fourth quarter worth $318,000. Hedge funds and other institutional investors own 60.45% of the company's stock.
Financial Institutions Trading Down 0.5 %
NASDAQ:FISI traded down $0.11 on Friday, reaching $22.35. The stock had a trading volume of 241,152 shares, compared to its average volume of 97,949. The company has a market cap of $448.74 million, a price-to-earnings ratio of -15.41 and a beta of 0.68. Financial Institutions, Inc. has a 12-month low of $16.39 and a 12-month high of $29.79. 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's fifty day moving average is $25.61 and its two-hundred day moving average is $26.24.
Financial Institutions (NASDAQ:FISI - Get Free Report) last released its earnings results on Thursday, January 30th. The bank reported $0.54 EPS for the quarter, missing the consensus estimate 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%. Equities analysts expect that Financial Institutions, Inc. will post 3.3 EPS for the current fiscal year.
Financial Institutions Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 14th were issued a $0.31 dividend. This is a boost from Financial Institutions's previous quarterly dividend of $0.30. The ex-dividend date was Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 5.55%. Financial Institutions's payout ratio is -85.52%.
Analysts Set New Price Targets
FISI has been the subject of several research reports. Stephens reaffirmed an "equal weight" rating and set a $32.00 price target on shares of Financial Institutions in a research note on Tuesday, March 11th. Piper Sandler began coverage on shares of Financial Institutions in a report on Friday, December 20th. They issued an "overweight" rating and a $33.00 price target on the stock. Keefe, Bruyette & Woods raised shares of Financial Institutions from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $29.00 to $34.00 in a research note on Monday, February 3rd. Finally, StockNews.com upgraded Financial Institutions from a "sell" rating to a "hold" rating in a research report on Tuesday, February 11th.
Get Our Latest Report on Financial Institutions
Financial Institutions Company 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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