Financial Institutions, Inc. (NASDAQ:FISI) Director Buys $100,000.00 in Stock

Financial Institutions, Inc. (NASDAQ:FISI) Director Robert N. Latella bought 4,000 shares of Financial Institutions stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $25.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the director now directly owns 16,000 shares in the company, valued at $400,000. This trade represents a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Financial Institutions Stock Down 4.9 %

Financial Institutions stock opened at $27.06 on Thursday. Financial Institutions, Inc. has a 52 week low of $16.29 and a 52 week high of $29.34. The stock has a market cap of $418.73 million, a price-to-earnings ratio of 8.51 and a beta of 0.92. The company’s 50-day moving average price is $26.44 and its two-hundred day moving average price is $23.92. 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 released its earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. The firm had revenue of $50.12 million during the quarter. During the same quarter last year, the company earned $0.88 earnings per share. On average, analysts expect that Financial Institutions, Inc. will post 3.66 EPS for the current fiscal year.

Financial Institutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 4.43%. Financial Institutions’s dividend payout ratio is currently 37.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FISI shares. StockNews.com cut Financial Institutions from a “buy” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their target price on Financial Institutions from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Financial Institutions during the 2nd quarter valued at about $25,000. US Bancorp DE boosted its holdings in Financial Institutions by 119.3% during the third quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock worth $66,000 after buying an additional 1,399 shares in the last quarter. CWM LLC grew its position in Financial Institutions by 150.4% in the second quarter. CWM LLC now owns 5,438 shares of the bank’s stock worth $105,000 after buying an additional 3,266 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Financial Institutions in the third quarter valued at $164,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Financial Institutions by 23.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,837 shares of the bank’s stock valued at $209,000 after acquiring an additional 2,026 shares during the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.

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.