Segall Bryant & Hamill LLC Buys 30,130 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

Segall Bryant & Hamill LLC increased its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 56.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,686 shares of the bank’s stock after purchasing an additional 30,130 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Financial Institutions were worth $2,284,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its holdings in shares of Financial Institutions by 45.5% during the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank’s stock worth $32,000 after acquiring an additional 374 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Financial Institutions by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 124,428 shares of the bank’s stock worth $3,169,000 after purchasing an additional 417 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Financial Institutions by 14.9% in the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock valued at $202,000 after purchasing an additional 964 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Financial Institutions in the 4th quarter valued at $30,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Financial Institutions by 1.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 59,725 shares of the bank’s stock valued at $1,521,000 after purchasing an additional 1,137 shares during the last quarter. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stephens reaffirmed an “equal weight” rating and issued a $32.00 price objective on shares of Financial Institutions in a research note on Tuesday, March 11th. Piper Sandler started coverage on shares of Financial Institutions in a report on Friday, December 20th. They issued an “overweight” rating and a $33.00 target price for the company. Keefe, Bruyette & Woods raised shares of Financial Institutions from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $29.00 to $34.00 in a report on Monday, February 3rd. Finally, StockNews.com raised shares of Financial Institutions from a “sell” rating to a “hold” rating in a research note on Tuesday, February 11th.

Financial Institutions Price Performance

Financial Institutions stock opened at $25.56 on Friday. The stock has a 50-day moving average price of $27.22 and a two-hundred day moving average price of $26.57. Financial Institutions, Inc. has a 12 month low of $16.29 and a 12 month high of $29.79. The company has a market capitalization of $513.19 million, a PE ratio of -17.63 and a beta of 0.86. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Thursday, January 30th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.20). Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. Analysts expect that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 14th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.30. Financial Institutions’s payout ratio is -85.52%.

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.