Financial Institutions, Inc. (NASDAQ:FISI) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 181.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,069 shares of the bank’s stock after purchasing an additional 5,198 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Financial Institutions were worth $172,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Financial Institutions in the third quarter valued at approximately $109,000. EMC Capital Management raised its position in Financial Institutions by 18.5% in the 3rd quarter. EMC Capital Management now owns 6,572 shares of the bank’s stock valued at $111,000 after purchasing an additional 1,028 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in Financial Institutions during the 3rd quarter worth $235,000. Community Capital Management LLC acquired a new stake in Financial Institutions during the 3rd quarter worth $269,000. Finally, Victory Capital Management Inc. grew its position in Financial Institutions by 4.2% during the 3rd quarter. Victory Capital Management Inc. now owns 44,800 shares of the bank’s stock worth $754,000 after purchasing an additional 1,788 shares during the last quarter. 60.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on FISI. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $23.00 target price on shares of Financial Institutions in a research note on Tuesday, April 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $19.00 price objective (down from $23.00) on shares of Financial Institutions in a research note on Monday, March 25th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.67.

Financial Institutions Trading Up 1.0 %

Shares of Financial Institutions stock opened at $17.60 on Monday. The firm has a market cap of $271.87 million, a price-to-earnings ratio of 7.01 and a beta of 0.87. Financial Institutions, Inc. has a 52-week low of $13.84 and a 52-week high of $23.11. The company’s 50-day simple moving average is $18.11 and its 200-day simple moving average is $18.76. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.28.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.61 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.12). Financial Institutions had a net margin of 11.53% and a return on equity of 9.76%. The business had revenue of $55.25 million during the quarter, compared to analyst estimates of $50.29 million. As a group, equities research analysts anticipate that Financial Institutions, Inc. will post 2.71 earnings per share for the current year.

Financial Institutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 6.82%. The ex-dividend date of this dividend was Thursday, March 14th. Financial Institutions’s payout ratio is 47.81%.

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 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.