Renaissance Technologies LLC Buys 27,400 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

Renaissance Technologies LLC raised its stake in Financial Institutions, Inc. (NASDAQ:FISI) by 9.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 332,500 shares of the bank’s stock after acquiring an additional 27,400 shares during the quarter. Renaissance Technologies LLC owned about 2.15% of Financial Institutions worth $6,424,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Financial Institutions during the second quarter worth approximately $25,000. Lazard Asset Management LLC bought a new position in Financial Institutions during the 1st quarter worth $98,000. CWM LLC increased its position in Financial Institutions by 150.4% during the 2nd quarter. CWM LLC now owns 5,438 shares of the bank’s stock worth $105,000 after buying an additional 3,266 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Financial Institutions by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock worth $166,000 after buying an additional 742 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Financial Institutions by 11.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,276 shares of the bank’s stock valued at $237,000 after acquiring an additional 1,216 shares during the period. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on FISI shares. StockNews.com raised shares of Financial Institutions from a “hold” rating to a “buy” rating in a research report on Saturday, September 21st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $25.00 target price (up from $20.00) on shares of Financial Institutions in a report on Monday, July 29th.

Financial Institutions Stock Performance

FISI opened at $24.97 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.86. Financial Institutions, Inc. has a 52-week low of $15.22 and a 52-week high of $27.75. The firm has a market cap of $385.71 million, a P/E ratio of 9.95 and a beta of 0.89. The business’s fifty day moving average is $24.76 and its 200-day moving average is $20.48.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.92. The firm had revenue of $102.80 million for the quarter. Financial Institutions had a net margin of 13.95% and a return on equity of 12.06%. During the same quarter in the previous year, the company earned $0.91 earnings per share. Sell-side analysts expect that Financial Institutions, Inc. will post 3.64 EPS for the current fiscal year.

Financial Institutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Friday, September 13th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 4.81%. Financial Institutions’s dividend payout ratio is currently 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.