American Century Companies Inc. raised its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 35.5% during the 4th quarter, HoldingsChannel reports. The fund owned 117,338 shares of the bank’s stock after purchasing an additional 30,737 shares during the period. American Century Companies Inc.’s holdings in Financial Institutions were worth $3,016,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FISI. Royce & Associates LP boosted its position in Financial Institutions by 77.0% during the 4th quarter. Royce & Associates LP now owns 380,167 shares of the bank’s stock valued at $9,770,000 after acquiring an additional 165,330 shares in the last quarter. Morgan Stanley boosted its position in shares of Financial Institutions by 121.4% in the 3rd quarter. Morgan Stanley now owns 238,672 shares of the bank’s stock worth $7,494,000 after purchasing an additional 130,863 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Financial Institutions by 20.2% in the 3rd quarter. Renaissance Technologies LLC now owns 388,600 shares of the bank’s stock worth $12,202,000 after purchasing an additional 65,400 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Financial Institutions by 4.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,307,185 shares of the bank’s stock worth $41,046,000 after purchasing an additional 61,163 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Financial Institutions in the 3rd quarter worth $1,782,000. 70.04% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on FISI. BidaskClub raised Financial Institutions from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 9th. Zacks Investment Research raised Financial Institutions from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Wednesday, February 6th. Finally, ValuEngine cut Financial Institutions from a “hold” rating to a “sell” rating in a research report on Tuesday, March 12th.
Financial Institutions stock opened at $28.03 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $451.62 million, a PE ratio of 10.91 and a beta of 0.90. Financial Institutions, Inc. has a 1-year low of $24.49 and a 1-year high of $34.35.
Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings data on Thursday, January 31st. The bank reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.05. The firm had revenue of $41.38 million during the quarter, compared to analysts’ expectations of $40.40 million. Financial Institutions had a return on equity of 11.41% and a net margin of 20.89%. As a group, equities research analysts expect that Financial Institutions, Inc. will post 2.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were paid a $0.25 dividend. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.57%. Financial Institutions’s dividend payout ratio (DPR) is 38.91%.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://www.thelincolnianonline.com/2019/04/16/american-century-companies-inc-buys-30737-shares-of-financial-institutions-inc-fisi.html.
Financial Institutions Company Profile
Financial Institutions, Inc provides banking solutions. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. The company's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.
Read More: What are gap-down stocks?
Want to see what other hedge funds are holding FISI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Financial Institutions, Inc. (NASDAQ:FISI).
Receive News & Ratings for Financial Institutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Financial Institutions and related companies with MarketBeat.com's FREE daily email newsletter.