Financial Institutions, Inc. (NASDAQ:FISI) is PL Capital Advisors LLC’s 8th Largest Position

PL Capital Advisors LLC cut its holdings in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 71.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 497,751 shares of the bank’s stock after selling 1,273,765 shares during the period. Financial Institutions comprises about 4.6% of PL Capital Advisors LLC’s portfolio, making the stock its 8th biggest position. PL Capital Advisors LLC owned about 3.22% of Financial Institutions worth $13,584,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. R Squared Ltd acquired a new stake in shares of Financial Institutions in the 4th quarter valued at $30,000. US Bancorp DE raised its stake in Financial Institutions by 119.3% during 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. SG Americas Securities LLC lifted its position in Financial Institutions by 14.9% in the fourth quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock valued at $202,000 after acquiring an additional 964 shares during the last quarter. Stonebrook Private Inc. acquired a new position in Financial Institutions in the third quarter valued at $218,000. Finally, EMC Capital Management grew its holdings in shares of Financial Institutions by 23.0% during the third quarter. EMC Capital Management now owns 8,709 shares of the bank’s stock worth $222,000 after purchasing an additional 1,629 shares during the last quarter. Institutional investors and hedge funds own 60.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FISI shares. Piper Sandler started coverage on Financial Institutions in a research report on Friday, December 20th. They issued an “overweight” rating and a $33.00 target price for the company. StockNews.com upgraded shares of Financial Institutions from a “sell” rating to a “hold” rating in a research report on Tuesday, February 11th. Stephens reiterated an “equal weight” rating and issued a $33.00 price target on shares of Financial Institutions in a research report on Friday, January 31st. Finally, 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 report on Monday, February 3rd.

Insider Activity at Financial Institutions

In related news, Director Robert N. Latella purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $25.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director now owns 16,000 shares of the company’s stock, valued at approximately $400,000. This trade represents a 33.33 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.68% of the stock is currently owned by corporate insiders.

Financial Institutions Trading Down 0.2 %

NASDAQ:FISI opened at $28.16 on Wednesday. Financial Institutions, Inc. has a 12-month low of $16.29 and a 12-month high of $29.78. 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 50 day simple moving average is $27.40 and its 200-day simple moving average is $26.32. The firm has a market cap of $435.75 million, a P/E ratio of -19.42 and a beta of 0.90.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data 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 negative net margin of 6.69% and a positive return on equity of 11.12%. Equities analysts anticipate 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. Investors of record on Friday, March 14th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Friday, March 14th. This is a boost from Financial Institutions’s previous quarterly dividend of $0.30. Financial Institutions’s dividend payout ratio (DPR) is currently -85.52%.

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.