Insider Buying: Financial Institutions, Inc. (NASDAQ:FISI) Director Acquires 4,000 Shares of Stock

Financial Institutions, Inc. (NASDAQ:FISI) Director Robert N. Latella purchased 4,000 shares of the stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now owns 16,000 shares in the company, valued at $400,000. This trade represents a 33.33 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Financial Institutions Trading Up 0.3 %

Shares of FISI traded up $0.08 during midday trading on Monday, hitting $28.94. The stock had a trading volume of 78,160 shares, compared to its average volume of 55,888. Financial Institutions, Inc. has a fifty-two week low of $16.29 and a fifty-two week high of $29.14. The business has a 50-day simple moving average of $26.23 and a two-hundred day simple moving average of $23.74. 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 firm has a market cap of $447.82 million, a P/E ratio of 9.08 and a beta of 0.92.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. The firm had revenue of $50.12 million for the quarter. During the same quarter in the previous year, the firm posted $0.88 earnings per share. As a group, equities analysts forecast that Financial Institutions, Inc. will post 3.66 EPS for the current year.

Financial Institutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 4.15%. Financial Institutions’s payout ratio is 37.74%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FISI shares. Keefe, Bruyette & Woods increased 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 note on Wednesday, December 4th. StockNews.com upgraded Financial Institutions from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th.

Hedge Funds Weigh In On Financial Institutions

Several institutional investors and hedge funds have recently modified their holdings of FISI. Innealta Capital LLC purchased a new stake in shares of Financial Institutions during the second quarter worth $25,000. US Bancorp DE increased its position in Financial Institutions by 119.3% in the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock worth $66,000 after purchasing an additional 1,399 shares during the last quarter. CWM LLC increased its position in Financial Institutions by 150.4% in the 2nd quarter. CWM LLC now owns 5,438 shares of the bank’s stock worth $105,000 after purchasing an additional 3,266 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Financial Institutions during the 3rd quarter worth about $164,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Financial Institutions by 23.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,837 shares of the bank’s stock valued at $209,000 after buying an additional 2,026 shares during the last quarter. 60.45% of the stock is currently owned by hedge funds and other institutional investors.

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.