8,567 Shares in Financial Institutions, Inc. (NASDAQ:FISI) Bought by Stonebrook Private Inc.

Stonebrook Private Inc. purchased a new stake in Financial Institutions, Inc. (NASDAQ:FISI) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,567 shares of the bank’s stock, valued at approximately $218,000. Stonebrook Private Inc. owned about 0.06% of Financial Institutions as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Financial Institutions by 2.1% in the first quarter. Vanguard Group Inc. now owns 784,928 shares of the bank’s stock worth $14,772,000 after buying an additional 16,462 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Financial Institutions during the 1st quarter valued at about $98,000. CWM LLC increased its holdings in shares of Financial Institutions by 150.4% in the second quarter. CWM LLC now owns 5,438 shares of the bank’s stock valued at $105,000 after purchasing an additional 3,266 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Financial Institutions by 11.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,276 shares of the bank’s stock valued at $237,000 after purchasing an additional 1,216 shares during the period. Finally, PL Capital Advisors LLC raised its stake in shares of Financial Institutions by 15.8% in the second quarter. PL Capital Advisors LLC now owns 348,751 shares of the bank’s stock worth $6,738,000 after purchasing an additional 47,470 shares during the last quarter. Institutional investors and hedge funds own 60.45% of the company’s stock.

Financial Institutions Stock Up 1.6 %

Shares of FISI stock opened at $27.90 on Friday. Financial Institutions, Inc. has a twelve month low of $16.29 and a twelve month high of $28.14. The stock has a market cap of $431.61 million, a P/E ratio of 8.77 and a beta of 0.90. The stock has a 50 day moving average of $25.67 and a 200 day moving average of $22.74. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26.

Financial Institutions (NASDAQ:FISI) last posted its earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. The firm had revenue of $50.12 million during the quarter. During the same period last year, the firm earned $0.88 earnings per share. As a group, sell-side analysts expect that Financial Institutions, Inc. will post 3.6 EPS for the current year.

Financial Institutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Friday, December 13th. Financial Institutions’s payout ratio is currently 37.74%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $25.00 price target (up previously from $20.00) on shares of Financial Institutions in a report on Monday, July 29th. StockNews.com lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Financial Institutions 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.