Financial Institutions, Inc. (NASDAQ:FISI) Director Andrew W. Dorn, Jr. purchased 1,557 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were purchased at an average price of $30.95 per share, with a total value of $48,189.15. Following the completion of the transaction, the director now directly owns 16,999 shares of the company’s stock, valued at approximately $526,119.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Financial Institutions, Inc. (NASDAQ:FISI) traded up $1.15 on Thursday, hitting $32.30. The company had a trading volume of 157,796 shares, compared to its average volume of 45,791. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. Financial Institutions, Inc. has a 52-week low of $25.65 and a 52-week high of $35.40. The stock has a market capitalization of $491.45, a PE ratio of 14.60 and a beta of 1.24.
Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Monday, January 29th. The bank reported $0.50 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The firm had revenue of $38.75 million during the quarter. Financial Institutions had a return on equity of 9.31% and a net margin of 20.34%. sell-side analysts predict that Financial Institutions, Inc. will post 2.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 14th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.72%. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.21. Financial Institutions’s payout ratio is 41.51%.
Several analysts recently commented on FISI shares. BidaskClub cut Financial Institutions from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Piper Jaffray Companies reiterated a “hold” rating and set a $31.50 price target on shares of Financial Institutions in a research report on Wednesday, October 4th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 price target on shares of Financial Institutions in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Financial Institutions has a consensus rating of “Hold” and a consensus price target of $32.25.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management boosted its stake in Financial Institutions by 8.0% during the fourth quarter. LSV Asset Management now owns 388,287 shares of the bank’s stock worth $12,075,000 after buying an additional 28,752 shares during the last quarter. Foundry Partners LLC boosted its stake in Financial Institutions by 18.5% during the fourth quarter. Foundry Partners LLC now owns 186,390 shares of the bank’s stock worth $5,797,000 after buying an additional 29,075 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Financial Institutions by 28.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 164,138 shares of the bank’s stock worth $5,105,000 after buying an additional 36,271 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Financial Institutions during the third quarter worth $429,000. Finally, California Public Employees Retirement System boosted its stake in Financial Institutions by 16.7% during the third quarter. California Public Employees Retirement System now owns 42,606 shares of the bank’s stock worth $1,227,000 after buying an additional 6,106 shares during the last quarter. 69.18% of the stock is currently owned by institutional investors.
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About Financial Institutions
Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.
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