Financial Institutions, Inc. (NASDAQ:FISI) Director Robert N. Latella Acquires 4,000 Shares

Financial Institutions, Inc. (NASDAQ:FISI) Director Robert N. Latella bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the transaction, the director now owns 16,000 shares in the company, valued at $400,000. This represents a 33.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Financial Institutions Stock Performance

Shares of Financial Institutions stock opened at $28.45 on Wednesday. The business has a 50-day simple moving average of $26.31 and a 200 day simple moving average of $23.82. Financial Institutions, Inc. has a one year low of $16.29 and a one year high of $29.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $440.24 million, a price-to-earnings ratio of 8.95 and a beta of 0.92.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. The firm had revenue of $50.12 million during the quarter. During the same quarter in the prior year, the firm earned $0.88 EPS. On average, research analysts anticipate that Financial Institutions, Inc. will post 3.66 earnings per share for the current fiscal year.

Financial Institutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 4.22%. Financial Institutions’s payout ratio is 37.74%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. PL Capital Advisors LLC raised its holdings in shares of Financial Institutions by 408.0% in the 3rd quarter. PL Capital Advisors LLC now owns 1,771,516 shares of the bank’s stock worth $45,121,000 after acquiring an additional 1,422,765 shares during the last quarter. Zacks Investment Management bought a new stake in Financial Institutions during the 3rd quarter worth approximately $4,706,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Financial Institutions in the third quarter worth approximately $1,364,000. AQR Capital Management LLC lifted its holdings in shares of Financial Institutions by 147.3% in the second quarter. AQR Capital Management LLC now owns 63,213 shares of the bank’s stock valued at $1,221,000 after purchasing an additional 37,653 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Financial Institutions by 9.0% during the second quarter. Renaissance Technologies LLC now owns 332,500 shares of the bank’s stock valued at $6,424,000 after buying an additional 27,400 shares during the last quarter. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com lowered Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of Financial Institutions from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

About Financial Institutions

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.