PL Capital Advisors LLC Trims Holdings in Financial Institutions, Inc. (NASDAQ:FISI)

PL Capital Advisors LLC decreased its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,800 shares of the bank’s stock after selling 15,000 shares during the quarter. Financial Institutions comprises 1.4% of PL Capital Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. PL Capital Advisors LLC owned 1.23% of Financial Institutions worth $4,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FISI. Courier Capital LLC raised its position in Financial Institutions by 100.8% in the 4th quarter. Courier Capital LLC now owns 217,453 shares of the bank’s stock valued at $4,632,000 after purchasing an additional 109,144 shares during the last quarter. GSA Capital Partners LLP raised its position in Financial Institutions by 128.2% in the 3rd quarter. GSA Capital Partners LLP now owns 51,877 shares of the bank’s stock valued at $873,000 after purchasing an additional 29,140 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Financial Institutions by 110.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,236 shares of the bank’s stock valued at $829,000 after purchasing an additional 25,889 shares during the last quarter. Community Capital Management LLC purchased a new stake in Financial Institutions in the 3rd quarter valued at $269,000. Finally, Great Lakes Advisors LLC purchased a new stake in Financial Institutions in the 3rd quarter valued at $235,000. Hedge funds and other institutional investors own 60.45% of the company’s stock.

Financial Institutions Stock Up 1.0 %

Shares of Financial Institutions stock opened at $17.60 on Friday. The firm has a fifty day moving average of $18.11 and a two-hundred day moving average of $18.75. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $271.92 million, a P/E ratio of 7.01 and a beta of 0.87. Financial Institutions, Inc. has a one year low of $13.84 and a one year high of $23.11.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.12). The company had revenue of $55.25 million during the quarter, compared to analysts’ expectations of $50.29 million. Financial Institutions had a net margin of 11.53% and a return on equity of 9.76%. On average, analysts forecast that Financial Institutions, Inc. will post 2.71 earnings per share for the current year.

Financial Institutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.82%. Financial Institutions’s dividend payout ratio is presently 47.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FISI. Piper Sandler restated a “neutral” rating and set a $19.00 price objective (down previously from $23.00) on shares of Financial Institutions in a research report on Monday, March 25th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $23.00 price objective on shares of Financial Institutions in a research report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.67.

Financial Institutions Company 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 provides 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.