Bank of Montreal Can Makes New $1.58 Million Investment in Financial Institutions, Inc. (NASDAQ:FISI)

Bank of Montreal Can bought a new position in Financial Institutions, Inc. (NASDAQ:FISI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 94,436 shares of the bank’s stock, valued at approximately $1,577,000. Bank of Montreal Can owned 0.61% of Financial Institutions at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Great West Life Assurance Co. Can boosted its stake in Financial Institutions by 177.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 857 shares of the bank’s stock worth $26,000 after purchasing an additional 548 shares during the period. Captrust Financial Advisors boosted its position in shares of Financial Institutions by 107.1% in the second quarter. Captrust Financial Advisors now owns 1,073 shares of the bank’s stock worth $28,000 after buying an additional 555 shares during the period. Citigroup Inc. grew its holdings in shares of Financial Institutions by 189.6% during the fourth quarter. Citigroup Inc. now owns 1,758 shares of the bank’s stock valued at $43,000 after buying an additional 1,151 shares in the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of Financial Institutions by 102.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,960 shares of the bank’s stock valued at $72,000 after buying an additional 1,495 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Financial Institutions by 263.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,056 shares of the bank’s stock valued at $73,000 after buying an additional 2,216 shares during the period. 63.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Financial Institutions in a research report on Thursday, October 5th. They set a “hold” rating for the company.

Financial Institutions Stock Down 0.8 %

Financial Institutions stock opened at $16.47 on Friday. Financial Institutions, Inc. has a twelve month low of $13.84 and a twelve month high of $25.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a market cap of $253.64 million, a PE ratio of 4.98 and a beta of 0.89. The firm’s 50 day moving average price is $16.68 and its two-hundred day moving average price is $16.97.

Financial Institutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, September 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date of this dividend was Wednesday, September 13th. Financial Institutions’s dividend payout ratio (DPR) is presently 36.25%.

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 offers 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.