Jacobs Levy Equity Management Inc. Grows Stake in Financial Institutions, Inc. (NASDAQ:FISI)

Jacobs Levy Equity Management Inc. raised its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,725 shares of the bank’s stock after buying an additional 1,137 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.39% of Financial Institutions worth $1,521,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in Financial Institutions in the second quarter worth about $25,000. US Bancorp DE raised its position in shares of Financial Institutions by 119.3% in the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock worth $66,000 after acquiring an additional 1,399 shares in the last quarter. CWM LLC boosted its position in shares of Financial Institutions by 150.4% during the second quarter. CWM LLC now owns 5,438 shares of the bank’s stock valued at $105,000 after purchasing an additional 3,266 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Financial Institutions in the third quarter worth $164,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Financial Institutions by 23.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,837 shares of the bank’s stock worth $209,000 after purchasing an additional 2,026 shares in the last quarter. 60.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FISI has been the topic of a number of research reports. StockNews.com cut shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Financial Institutions from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Financial Institutions Trading Up 0.1 %

NASDAQ FISI opened at $26.73 on Monday. Financial Institutions, Inc. has a 12 month low of $16.29 and a 12 month 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. The stock’s fifty day moving average price is $25.94 and its 200-day moving average price is $23.39. The stock has a market cap of $413.62 million, a P/E ratio of 8.41 and a beta of 0.92.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The business 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 quarter in the prior year, the business posted $0.88 earnings per share. As a group, equities analysts forecast that Financial Institutions, Inc. will post 3.66 EPS for the current fiscal year.

Financial Institutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 4.49%. Financial Institutions’s payout ratio is currently 37.74%.

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.