Courier Capital LLC Has $8.92 Million Stock Position in Financial Institutions, Inc. (NASDAQ:FISI)

Courier Capital LLC grew its position in Financial Institutions, Inc. (NASDAQ:FISI) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 350,239 shares of the bank’s stock after buying an additional 8,064 shares during the period. Courier Capital LLC owned approximately 2.27% of Financial Institutions worth $8,921,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Financial Institutions in the 2nd quarter valued at $25,000. Lazard Asset Management LLC bought a new stake in Financial Institutions in the 1st quarter valued at $98,000. CWM LLC lifted its position in Financial Institutions by 150.4% in the 2nd quarter. CWM LLC now owns 5,438 shares of the bank’s stock valued at $105,000 after acquiring an additional 3,266 shares in the last quarter. SG Americas Securities LLC bought a new stake in Financial Institutions in the 3rd quarter valued at $164,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Financial Institutions by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock valued at $166,000 after acquiring an additional 742 shares in the last quarter. Institutional investors and hedge funds own 60.45% of the company’s stock.

Financial Institutions Stock Up 0.3 %

NASDAQ:FISI traded up $0.08 on Wednesday, hitting $25.42. 5,904 shares of the company’s stock were exchanged, compared to its average volume of 50,399. The firm has a 50-day moving average price of $25.25 and a 200-day moving average price of $21.41. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.86 and a quick ratio of 0.86. Financial Institutions, Inc. has a 52 week low of $15.22 and a 52 week high of $27.75. The company has a market cap of $392.66 million, a P/E ratio of 10.10 and a beta of 0.89.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.62 EPS for the quarter, topping the consensus estimate of $0.70 by $0.92. Financial Institutions had a net margin of 13.95% and a return on equity of 12.06%. The firm had revenue of $102.80 million for the quarter. During the same period last year, the firm earned $0.91 earnings per share. As a group, analysts expect that Financial Institutions, Inc. will post 3.64 EPS for the current fiscal year.

Financial Institutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Friday, September 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.72%. Financial Institutions’s payout ratio is 47.81%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FISI shares. StockNews.com cut shares of Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $25.00 price target (up from $20.00) on shares of Financial Institutions in a research report on Monday, July 29th.

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.