Cwm LLC Acquires 688 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

Cwm LLC lifted its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 8.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,222 shares of the bank’s stock after buying an additional 688 shares during the quarter. Cwm LLC’s holdings in Financial Institutions were worth $230,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FISI. American Century Companies Inc. increased its position in shares of Financial Institutions by 38.1% during the fourth quarter. American Century Companies Inc. now owns 424,825 shares of the bank’s stock worth $11,593,000 after buying an additional 117,142 shares during the period. Vanguard Group Inc. grew its holdings in shares of Financial Institutions by 13.0% during the fourth quarter. Vanguard Group Inc. now owns 925,285 shares of the bank’s stock valued at $25,251,000 after buying an additional 106,612 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Financial Institutions by 2.4% during the fourth quarter. Prudential Financial Inc. now owns 187,448 shares of the bank’s stock valued at $5,115,000 after buying an additional 4,400 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Financial Institutions by 239.5% during the fourth quarter. JPMorgan Chase & Co. now owns 61,484 shares of the bank’s stock valued at $1,678,000 after buying an additional 43,376 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Financial Institutions during the fourth quarter worth about $18,294,000. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Saturday.

Financial Institutions Stock Performance

Shares of FISI stock opened at $26.06 on Friday. The firm’s 50-day simple moving average is $26.14 and its two-hundred day simple moving average is $26.02. Financial Institutions, Inc. has a 52 week low of $20.97 and a 52 week high of $29.78. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $524.07 million, a price-to-earnings ratio of -17.14 and a beta of 0.71.

Financial Institutions (NASDAQ:FISI) last posted its earnings results on Thursday, July 24th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Financial Institutions had a negative net margin of 4.96% and a positive return on equity of 10.67%. The business had revenue of $59.74 million for the quarter, compared to analyst estimates of $59.86 million. As a group, equities analysts forecast that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 13th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.76%. Financial Institutions’s dividend payout ratio (DPR) is -165.33%.

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.