Allspring Global Investments Holdings LLC Sells 5,033 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

Allspring Global Investments Holdings LLC trimmed its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 69.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,186 shares of the bank’s stock after selling 5,033 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Financial Institutions were worth $34,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Bailard Inc. lifted its holdings in shares of Financial Institutions by 11.8% in the 2nd quarter. Bailard Inc. now owns 29,400 shares of the bank’s stock worth $463,000 after acquiring an additional 3,100 shares during the last quarter. Courier Capital LLC lifted its holdings in shares of Financial Institutions by 5.7% in the 1st quarter. Courier Capital LLC now owns 14,974 shares of the bank’s stock worth $289,000 after acquiring an additional 811 shares during the last quarter. State Street Corp boosted its position in Financial Institutions by 10.1% during the 1st quarter. State Street Corp now owns 457,419 shares of the bank’s stock valued at $8,953,000 after buying an additional 41,857 shares during the period. Geode Capital Management LLC boosted its position in Financial Institutions by 3.7% during the 1st quarter. Geode Capital Management LLC now owns 291,729 shares of the bank’s stock valued at $5,625,000 after buying an additional 10,305 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in Financial Institutions by 1.0% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 97,948 shares of the bank’s stock valued at $1,888,000 after buying an additional 1,000 shares during the period. 63.87% of the stock is currently owned by institutional investors.

Financial Institutions Trading Up 2.5 %

Shares of FISI opened at $18.02 on Friday. The stock has a market capitalization of $277.51 million, a P/E ratio of 5.44 and a beta of 0.89. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $16.68 and a two-hundred day simple moving average of $16.96. Financial Institutions, Inc. has a twelve month low of $13.84 and a twelve month high of $25.85.

Financial Institutions (NASDAQ:FISI) last posted its earnings results on Thursday, October 26th. The bank reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. Financial Institutions had a net margin of 16.89% and a return on equity of 13.19%. The firm had revenue of $52.16 million during the quarter, compared to analysts’ expectations of $52.96 million. On average, research analysts anticipate that Financial Institutions, Inc. will post 3.23 EPS for the current year.

Financial Institutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Thursday, December 14th will be given a $0.30 dividend. The ex-dividend date is Wednesday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 6.66%. Financial Institutions’s dividend payout ratio is 36.25%.

Analyst Upgrades and Downgrades

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

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.