Invesco Ltd. Has $1.06 Million Stock Position in Financial Institutions, Inc. (NASDAQ:FISI)

Invesco Ltd. increased its stake in Financial Institutions, Inc. (NASDAQ:FISI) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,839 shares of the bank’s stock after buying an additional 2,606 shares during the quarter. Invesco Ltd. owned approximately 0.25% of Financial Institutions worth $1,060,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd bought a new position in shares of Financial Institutions in the fourth quarter valued at about $30,000. Picton Mahoney Asset Management raised its holdings in Financial Institutions by 45.5% in the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank’s stock valued at $32,000 after acquiring an additional 374 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Financial Institutions during the fourth quarter worth approximately $87,000. SG Americas Securities LLC boosted its holdings in shares of Financial Institutions by 14.9% during the fourth quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock worth $202,000 after acquiring an additional 964 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Financial Institutions by 14.3% in the fourth quarter. Wells Fargo & Company MN now owns 9,130 shares of the bank’s stock valued at $249,000 after purchasing an additional 1,141 shares during the last quarter. 60.45% of the stock is owned by institutional investors.

Financial Institutions Stock Up 0.6 %

Shares of Financial Institutions stock opened at $25.54 on Friday. Financial Institutions, Inc. has a 1 year low of $16.81 and a 1 year high of $29.79. The firm has a market cap of $513.61 million, a price-to-earnings ratio of -17.61 and a beta of 0.68. The company has a 50-day moving average of $24.78 and a 200 day moving average of $26.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Monday, April 28th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.07. The business had revenue of $57.24 million for the quarter, compared to analysts’ expectations of $57.14 million. Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. As a group, sell-side analysts anticipate that Financial Institutions, Inc. will post 3.3 earnings per share for the current fiscal year.

Financial Institutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 14th were paid a dividend of $0.31 per share. This is a boost from Financial Institutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 4.86%. Financial Institutions’s dividend payout ratio (DPR) is presently -165.33%.

Wall Street Analyst Weigh In

FISI has been the topic of several recent analyst reports. Stephens reissued an “equal weight” rating and issued a $32.00 target price on shares of Financial Institutions in a report on Tuesday, March 11th. StockNews.com cut Financial Institutions from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised Financial Institutions from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $29.00 to $34.00 in a research report on Monday, February 3rd.

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.