Financial Institutions, Inc. (NASDAQ:FISI) Shares Purchased by Courier Capital LLC

Courier Capital LLC increased its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 100.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 217,453 shares of the bank’s stock after purchasing an additional 109,144 shares during the quarter. Courier Capital LLC owned 1.41% of Financial Institutions worth $4,632,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FISI. MetLife Investment Management LLC lifted its holdings in shares of Financial Institutions by 43.3% during the first quarter. MetLife Investment Management LLC now owns 9,259 shares of the bank’s stock worth $279,000 after purchasing an additional 2,798 shares during the period. BlackRock Inc. lifted its holdings in Financial Institutions by 2.6% in the first quarter. BlackRock Inc. now owns 1,199,589 shares of the bank’s stock valued at $36,145,000 after acquiring an additional 30,179 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Financial Institutions by 177.3% in the first quarter. Great West Life Assurance Co. Can now owns 857 shares of the bank’s stock valued at $26,000 after acquiring an additional 548 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Financial Institutions by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,258,738 shares of the bank’s stock valued at $37,926,000 after acquiring an additional 9,639 shares during the period. Finally, Sei Investments Co. lifted its holdings in Financial Institutions by 171.1% in the first quarter. Sei Investments Co. now owns 19,847 shares of the bank’s stock valued at $598,000 after acquiring an additional 12,527 shares during the period. Institutional investors and hedge funds own 60.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FISI. TheStreet raised Financial Institutions from a “c+” rating to a “b-” rating in a report on Thursday, December 28th. Piper Sandler reissued a “neutral” rating and issued a $19.00 price target (down from $23.00) on shares of Financial Institutions in a report on Monday.

Financial Institutions Stock Up 2.9 %

Financial Institutions stock opened at $18.64 on Thursday. The stock has a market capitalization of $287.24 million, a PE ratio of 5.90 and a beta of 0.86. Financial Institutions, Inc. has a 12 month low of $13.84 and a 12 month high of $23.11. The business has a 50 day simple moving average of $19.42 and a 200-day simple moving average of $18.66. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.84 and a quick ratio of 0.84.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.12). The business had revenue of $55.25 million during the quarter, compared to analysts’ expectations of $50.29 million. Financial Institutions had a net margin of 15.03% and a return on equity of 12.24%. On average, analysts anticipate that Financial Institutions, Inc. will post 2.71 EPS for the current fiscal year.

Financial Institutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date of this dividend is Thursday, March 14th. Financial Institutions’s dividend payout ratio (DPR) is presently 37.97%.

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 offers 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.