Victory Capital Management Inc. Has $924,000 Stock Holdings in Financial Institutions, Inc. (NASDAQ:FISI)

Victory Capital Management Inc. increased its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 10.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,000 shares of the bank’s stock after acquiring an additional 3,355 shares during the period. Victory Capital Management Inc. owned about 0.18% of Financial Institutions worth $924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Financial Institutions by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 925,285 shares of the bank’s stock valued at $25,251,000 after acquiring an additional 106,612 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Financial Institutions by 239.5% during the 4th quarter. JPMorgan Chase & Co. now owns 61,484 shares of the bank’s stock valued at $1,678,000 after purchasing an additional 43,376 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Financial Institutions during the 4th quarter valued at $18,294,000. Alliancebernstein L.P. lifted its stake in shares of Financial Institutions by 1,409.9% in the 4th quarter. Alliancebernstein L.P. now owns 231,010 shares of the bank’s stock valued at $6,304,000 after purchasing an additional 215,710 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Financial Institutions by 334.6% in the fourth quarter. Franklin Resources Inc. now owns 77,956 shares of the bank’s stock worth $2,127,000 after purchasing an additional 60,018 shares in the last quarter. Institutional investors and hedge funds own 60.45% of the company’s stock.

Financial Institutions Stock Down 0.3%

Shares of Financial Institutions stock opened at $25.49 on Friday. Financial Institutions, Inc. has a 12-month low of $20.97 and a 12-month high of $29.78. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average price of $26.11 and a two-hundred day moving average price of $26.02. The stock has a market capitalization of $512.60 million, a P/E ratio of -16.77 and a beta of 0.71.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data 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. The business had revenue of $59.74 million during the quarter, compared to analysts’ expectations of $59.86 million. Financial Institutions had a negative net margin of 4.96% and a positive return on equity of 10.67%. Equities analysts expect that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 13th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, June 13th. Financial Institutions’s dividend payout ratio (DPR) is currently -81.58%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th.

Financial Institutions Company Profile

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.