EMC Capital Management Has $193,000 Stake in Financial Institutions, Inc. (NASDAQ:FISI)

EMC Capital Management trimmed its position in Financial Institutions, Inc. (NASDAQ:FISI) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,080 shares of the bank’s stock after selling 1,629 shares during the quarter. EMC Capital Management’s holdings in Financial Institutions were worth $193,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PL Capital Advisors LLC boosted its position in Financial Institutions by 408.0% in the third quarter. PL Capital Advisors LLC now owns 1,771,516 shares of the bank’s stock valued at $45,121,000 after buying an additional 1,422,765 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Financial Institutions by 2.0% during the third quarter. Geode Capital Management LLC now owns 354,685 shares of the bank’s stock worth $9,036,000 after purchasing an additional 7,045 shares during the last quarter. Courier Capital LLC increased its stake in shares of Financial Institutions by 0.5% in the fourth quarter. Courier Capital LLC now owns 352,126 shares of the bank’s stock valued at $9,610,000 after buying an additional 1,887 shares during the period. State Street Corp raised its holdings in Financial Institutions by 6.5% in the 3rd quarter. State Street Corp now owns 283,707 shares of the bank’s stock valued at $7,309,000 after buying an additional 17,395 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in Financial Institutions during the 3rd quarter worth approximately $4,706,000. 60.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FISI shares. StockNews.com cut shares of Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Piper Sandler assumed coverage on shares of Financial Institutions in a research note on Friday, December 20th. They issued an “overweight” rating and a $33.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised their target price on Financial Institutions from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Financial Institutions Stock Performance

NASDAQ:FISI opened at $27.16 on Friday. The company has a market capitalization of $420.17 million, a PE ratio of 8.54 and a beta of 0.91. Financial Institutions, Inc. has a fifty-two week low of $16.29 and a fifty-two week high of $29.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50 day simple moving average of $27.10 and a two-hundred day simple moving average of $25.74.

Financial Institutions (NASDAQ:FISI) last announced its earnings results on Thursday, January 30th. The bank reported $0.54 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.20). Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. Research analysts anticipate that Financial Institutions, Inc. will post 3.31 earnings per share for the current year.

Financial Institutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were given a dividend of $0.30 per share. The ex-dividend date was Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.42%. Financial Institutions’s payout ratio is presently 37.74%.

Insider Buying and Selling

In related news, Director Robert N. Latella acquired 4,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $25.00 per share, with a total value of $100,000.00. Following the transaction, the director now directly owns 16,000 shares of the company’s stock, valued at $400,000. This trade represents a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.68% of the stock is owned by insiders.

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.