Commonwealth Equity Services LLC Sells 483 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

Commonwealth Equity Services LLC trimmed its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 452,869 shares of the bank’s stock after selling 483 shares during the quarter. Commonwealth Equity Services LLC owned 2.93% of Financial Institutions worth $12,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Financial Institutions during the fourth quarter worth $30,000. SG Americas Securities LLC raised its holdings in shares of Financial Institutions by 14.9% during the fourth quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock worth $202,000 after acquiring an additional 964 shares during the period. Stonebrook Private Inc. acquired a new stake in shares of Financial Institutions during the third quarter worth $218,000. XTX Topco Ltd acquired a new stake in shares of Financial Institutions during the third quarter worth $224,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Financial Institutions during the fourth quarter worth $318,000. 60.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FISI has been the topic of several recent research reports. StockNews.com upgraded shares of Financial Institutions from a “sell” rating to a “hold” rating in a research note on Tuesday, February 11th. Keefe, Bruyette & Woods upgraded shares of Financial Institutions from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $29.00 to $34.00 in a research note on Monday, February 3rd. Stephens reaffirmed an “equal weight” rating and set a $32.00 target price on shares of Financial Institutions in a report on Tuesday, March 11th. Finally, Piper Sandler began coverage on shares of Financial Institutions in a report on Friday, December 20th. They set an “overweight” rating and a $33.00 target price for the company.

Financial Institutions Trading Down 0.4 %

NASDAQ:FISI opened at $25.72 on Wednesday. The firm’s fifty day moving average is $27.30 and its 200-day moving average is $26.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. Financial Institutions, Inc. has a 52 week low of $16.29 and a 52 week high of $29.79. The firm has a market cap of $516.41 million, a P/E ratio of -17.74 and a beta of 0.86.

Financial Institutions (NASDAQ:FISI) last issued its earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.20). Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. Equities analysts expect that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 14th will be issued a $0.31 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.24 annualized dividend and a dividend yield of 4.82%. This is an increase from Financial Institutions’s previous quarterly dividend of $0.30. Financial Institutions’s dividend payout ratio is currently -85.52%.

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.