Walthausen & Co. LLC raised its position in Financial Institutions, Inc. (NASDAQ:FISI) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,890 shares of the bank’s stock after acquiring an additional 5,000 shares during the quarter. Walthausen & Co. LLC owned approximately 0.31% of Financial Institutions worth $1,601,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in shares of Financial Institutions by 100.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 880 shares of the bank’s stock valued at $28,000 after acquiring an additional 440 shares during the period. Great West Life Assurance Co. Can bought a new stake in shares of Financial Institutions during the 4th quarter valued at about $34,000. Marshall Wace LLP bought a new stake in shares of Financial Institutions during the 4th quarter valued at about $107,000. Denali Advisors LLC bought a new stake in shares of Financial Institutions during the 4th quarter valued at about $132,000. Finally, SG Americas Securities LLC bought a new stake in shares of Financial Institutions during the 4th quarter valued at about $142,000. Hedge funds and other institutional investors own 71.19% of the company’s stock.
A number of brokerages have recently weighed in on FISI. TheStreet lowered shares of Financial Institutions from a “b” rating to a “c+” rating in a research note on Friday, March 6th. ValuEngine raised shares of Financial Institutions from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. BidaskClub lowered shares of Financial Institutions from a “sell” rating to a “strong sell” rating in a research note on Saturday, March 7th. Finally, Zacks Investment Research lowered shares of Financial Institutions from a “hold” rating to a “sell” rating in a research note on Tuesday, March 17th.
In other news, Director Robert M. Glaser bought 2,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $20.68 per share, for a total transaction of $41,360.00. Following the completion of the purchase, the director now owns 20,336 shares in the company, valued at approximately $420,548.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.03% of the company’s stock.
NASDAQ:FISI traded up $1.84 during mid-day trading on Thursday, hitting $17.71. 50,500 shares of the company’s stock were exchanged, compared to its average volume of 41,271. Financial Institutions, Inc. has a one year low of $12.78 and a one year high of $33.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average price of $25.04 and a 200 day moving average price of $29.78. The company has a market cap of $259.09 million, a PE ratio of 5.98 and a beta of 0.90.
Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $0.79 EPS for the quarter, topping the consensus estimate of $0.65 by $0.14. Financial Institutions had a net margin of 23.36% and a return on equity of 11.97%. The business had revenue of $42.84 million for the quarter. On average, equities analysts forecast that Financial Institutions, Inc. will post 2.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, March 19th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 5.87%. The ex-dividend date is Wednesday, March 18th. This is an increase from Financial Institutions’s previous quarterly dividend of $0.25. Financial Institutions’s dividend payout ratio is currently 35.14%.
Financial Institutions Company Profile
Financial Institutions, Inc operates as the holding company for Five Star Bank that provides banking and financial services to individuals, municipalities, and businesses. It operates in two segments, Banking and Non-Banking. The company offers checking and savings account programs, including money market accounts, certificates of deposit, and sweep investments, as well as individual retirement and other qualified plan accounts.
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