First Quadrant L P CA purchased a new position in shares of Financial Institutions, Inc. (NASDAQ:FISI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,049 shares of the bank’s stock, valued at approximately $329,000. First Quadrant L P CA owned 0.08% of Financial Institutions as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Financial Institutions by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 890,069 shares of the bank’s stock worth $29,328,000 after buying an additional 55,144 shares during the last quarter. Vanguard Group Inc. increased its stake in Financial Institutions by 10.1% in the first quarter. Vanguard Group Inc. now owns 584,353 shares of the bank’s stock worth $19,255,000 after buying an additional 53,552 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Financial Institutions by 72.6% in the first quarter. JPMorgan Chase & Co. now owns 504,240 shares of the bank’s stock worth $16,615,000 after buying an additional 212,141 shares during the last quarter. FMR LLC increased its stake in Financial Institutions by 0.6% in the first quarter. FMR LLC now owns 365,500 shares of the bank’s stock worth $12,044,000 after buying an additional 2,000 shares during the last quarter. Finally, LSV Asset Management increased its stake in Financial Institutions by 0.6% in the first quarter. LSV Asset Management now owns 343,035 shares of the bank’s stock worth $11,303,000 after buying an additional 1,975 shares during the last quarter. 63.71% of the stock is currently owned by institutional investors.
Financial Institutions, Inc. (NASDAQ FISI) traded down 0.17% during midday trading on Tuesday, reaching $29.35. 11,523 shares of the company were exchanged. The stock has a market capitalization of $430.36 million, a P/E ratio of 14.32 and a beta of 1.20. Financial Institutions, Inc. has a 52 week low of $25.98 and a 52 week high of $35.40. The firm’s 50 day moving average price is $30.02 and its 200-day moving average price is $32.12.
Financial Institutions (NASDAQ:FISI) last announced its earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.08. Financial Institutions had a return on equity of 10.22% and a net margin of 20.08%. The business had revenue of $36.76 million for the quarter. Equities analysts forecast that Financial Institutions, Inc. will post $2.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Wednesday, June 14th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 12th. This represents a $0.84 annualized dividend and a yield of 2.86%. Financial Institutions’s dividend payout ratio (DPR) is presently 40.98%.
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A number of equities research analysts recently issued reports on FISI shares. ValuEngine raised shares of Financial Institutions from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $33.00 price target on shares of Financial Institutions in a research note on Wednesday, April 26th.
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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