US Bancorp DE Has $29,000 Position in Financial Institutions, Inc. $FISI

US Bancorp DE lessened its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 54.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,173 shares of the bank’s stock after selling 1,399 shares during the quarter. US Bancorp DE’s holdings in Financial Institutions were worth $29,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC raised its holdings in Financial Institutions by 8.1% in the 1st quarter. CWM LLC now owns 9,222 shares of the bank’s stock valued at $230,000 after acquiring an additional 688 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Financial Institutions by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,716 shares of the bank’s stock worth $238,000 after acquiring an additional 380 shares during the period. 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. GAMMA Investing LLC increased its stake in shares of Financial Institutions by 6,068.4% during the first quarter. GAMMA Investing LLC now owns 15,051 shares of the bank’s stock worth $376,000 after purchasing an additional 14,807 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in Financial Institutions during the 4th quarter worth approximately $388,000. Institutional investors own 60.45% of the company’s stock.

Financial Institutions Trading Up 0.4%

Shares of NASDAQ:FISI opened at $25.95 on Thursday. The business’s 50 day simple moving average is $26.03 and its 200 day simple moving average is $25.88. Financial Institutions, Inc. has a 1 year low of $20.97 and a 1 year high of $29.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $522.37 million, a P/E ratio of -17.07 and a beta of 0.79.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. The firm had revenue of $59.74 million during the quarter, compared to analysts’ expectations of $59.86 million. Financial Institutions had a positive return on equity of 10.44% and a negative net margin of 4.96%. On average, research analysts anticipate that Financial Institutions, Inc. will post 3.3 EPS for the current fiscal year.

Financial Institutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 13th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 4.8%. Financial Institutions’s dividend payout ratio is currently -81.58%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Financial Institutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.00.

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.