Systematic Financial Management LP grew its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 29.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,115 shares of the bank’s stock after purchasing an additional 11,115 shares during the period. Systematic Financial Management LP owned about 0.33% of Financial Institutions worth $1,464,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Financial Institutions by 6.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 890,069 shares of the bank’s stock worth $29,328,000 after purchasing an additional 55,144 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Financial Institutions by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 584,353 shares of the bank’s stock worth $19,255,000 after purchasing an additional 53,552 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Financial Institutions by 3.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 519,523 shares of the bank’s stock worth $15,481,000 after purchasing an additional 15,283 shares in the last quarter. FMR LLC increased its holdings in shares of Financial Institutions by 0.6% in the 1st quarter. FMR LLC now owns 365,500 shares of the bank’s stock worth $12,044,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Financial Institutions by 7.4% in the 2nd quarter. Prudential Financial Inc. now owns 254,722 shares of the bank’s stock worth $7,590,000 after purchasing an additional 17,600 shares in the last quarter. 67.11% of the stock is owned by institutional investors and hedge funds.
Shares of Financial Institutions, Inc. (NASDAQ FISI) opened at 27.10 on Tuesday. The company has a market cap of $406.45 million, a price-to-earnings ratio of 13.23 and a beta of 1.20. The company has a 50 day moving average price of $27.31 and a 200 day moving average price of $30.54. Financial Institutions, Inc. has a one year low of $25.65 and a one year high of $35.40.
Financial Institutions (NASDAQ:FISI) last released 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 net margin of 20.08% and a return on equity of 10.03%. The firm had revenue of $36.76 million during the quarter. Equities analysts predict that Financial Institutions, Inc. will post $1.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, September 14th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Wednesday, September 13th. Financial Institutions’s payout ratio is 40.98%.
FISI has been the subject of a number of research analyst reports. ValuEngine raised Financial Institutions from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Piper Jaffray Companies reissued a “hold” rating and issued a $31.50 target price on shares of Financial Institutions in a report on Thursday, August 3rd.
Financial Institutions Profile
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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