Financial Institutions, Inc. (NASDAQ:FISI) Shares Sold by PL Capital Advisors LLC

PL Capital Advisors LLC decreased its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 71.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 497,751 shares of the bank’s stock after selling 1,273,765 shares during the period. Financial Institutions comprises about 4.6% of PL Capital Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. PL Capital Advisors LLC’s holdings in Financial Institutions were worth $13,584,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Stieven Capital Advisors L.P. acquired a new position in Financial Institutions in the fourth quarter worth $6,140,000. Zacks Investment Management bought a new position in shares of Financial Institutions in the 3rd quarter worth about $4,706,000. Segall Bryant & Hamill LLC acquired a new position in shares of Financial Institutions in the 3rd quarter valued at about $1,364,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Financial Institutions by 32.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,559 shares of the bank’s stock valued at $2,485,000 after buying an additional 23,885 shares during the last quarter. Finally, Fourthstone LLC bought a new stake in shares of Financial Institutions during the 3rd quarter valued at about $518,000. Institutional investors own 60.45% of the company’s stock.

Insider Activity at Financial Institutions

In related news, Director Robert N. Latella purchased 4,000 shares of Financial Institutions stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $25.00 per share, with a total value of $100,000.00. Following the purchase, the director now owns 16,000 shares in the company, valued at approximately $400,000. The trade was a 33.33 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on FISI shares. Keefe, Bruyette & Woods upgraded Financial Institutions from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $29.00 to $34.00 in a research note on Monday, February 3rd. Stephens reissued an “equal weight” rating and issued a $33.00 price target on shares of Financial Institutions in a report on Friday, January 31st. Piper Sandler started coverage on Financial Institutions in a research report on Friday, December 20th. They set an “overweight” rating and a $33.00 price objective for the company. Finally, StockNews.com raised Financial Institutions from a “sell” rating to a “hold” rating in a research report on Tuesday, February 11th.

Financial Institutions Stock Performance

FISI opened at $28.16 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $27.40 and its 200-day moving average is $26.32. The stock has a market cap of $435.75 million, a PE ratio of -19.42 and a beta of 0.90. Financial Institutions, Inc. has a twelve month low of $16.29 and a twelve month high of $29.78.

Financial Institutions (NASDAQ:FISI) last announced its earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share 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%. On average, analysts predict that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 14th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 4.40%. This is an increase from Financial Institutions’s previous quarterly dividend of $0.30. Financial Institutions’s dividend payout ratio is presently -85.52%.

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 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.