GSA Capital Partners LLP Takes $497,000 Position in Financial Institutions, Inc. $FISI

GSA Capital Partners LLP acquired a new position in Financial Institutions, Inc. (NASDAQ:FISI) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,274 shares of the bank’s stock, valued at approximately $497,000. GSA Capital Partners LLP owned 0.09% of Financial Institutions as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in Financial Institutions by 679.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,738 shares of the bank’s stock worth $45,000 after purchasing an additional 1,515 shares during the period. Allworth Financial LP lifted its holdings in shares of Financial Institutions by 925.2% in the second quarter. Allworth Financial LP now owns 2,850 shares of the bank’s stock worth $73,000 after buying an additional 2,572 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Financial Institutions by 29.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,805 shares of the bank’s stock worth $123,000 after acquiring an additional 1,103 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Financial Institutions by 461.5% during the second quarter. BNP Paribas Financial Markets now owns 6,042 shares of the bank’s stock valued at $155,000 after acquiring an additional 4,966 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Financial Institutions by 33.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,262 shares of the bank’s stock valued at $212,000 after acquiring an additional 2,063 shares during the last quarter. Institutional investors own 60.45% of the company’s stock.

Financial Institutions Trading Down 4.5%

Shares of NASDAQ FISI opened at $32.23 on Tuesday. Financial Institutions, Inc. has a 1-year low of $20.97 and a 1-year high of $35.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50 day moving average is $32.67 and its two-hundred day moving average is $29.71. The stock has a market capitalization of $648.79 million, a P/E ratio of 8.93 and a beta of 0.70.

Financial Institutions (NASDAQ:FISI) last announced its earnings results on Thursday, January 29th. The bank reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $64.12 million during the quarter, compared to analysts’ expectations of $62.99 million. Financial Institutions had a return on equity of 12.75% and a net margin of 19.81%. As a group, research analysts expect that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 13th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.0%. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, March 13th. Financial Institutions’s dividend payout ratio (DPR) is presently 34.35%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Zacks Research raised shares of Financial Institutions to a “hold” rating in a report on Thursday, December 18th. Keefe, Bruyette & Woods increased their price target on Financial Institutions from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Wall Street Zen upgraded Financial Institutions from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Piper Sandler reaffirmed a “neutral” rating and set a $36.00 price objective (up from $34.00) on shares of Financial Institutions in a report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Financial Institutions in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.33.

Financial Institutions Company Profile

Financial Institutions, Inc (NASDAQ: FISI) is a non-diversified, closed-end management investment company that seeks to provide tax-advantaged income to shareholders. The company invests primarily in investment-grade municipal obligations issued by states, municipalities and government agencies across the United States. By focusing on high-credit-quality bonds, Financial Institutions aims to deliver current income that is exempt from federal income tax.

In constructing its portfolio, the company may also utilize money market instruments and repurchase agreements to manage liquidity and facilitate efficient settlement.