Financial Institutions, Inc. (NASDAQ:FISI) Short Interest Update

Financial Institutions, Inc. (NASDAQ:FISI) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 49,200 shares, a decrease of 22.0% from the October 31st total of 63,100 shares. Based on an average daily trading volume, of 39,400 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.3% of the company’s shares are short sold.

Institutional Investors Weigh In On Financial Institutions

Several large investors have recently made changes to their positions in FISI. Innealta Capital LLC bought a new position in shares of Financial Institutions during the second quarter worth about $25,000. US Bancorp DE grew its stake in shares of Financial Institutions by 119.3% during the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock worth $66,000 after acquiring an additional 1,399 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Financial Institutions in the first quarter valued at approximately $98,000. CWM LLC lifted its position in shares of 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 purchasing an additional 3,266 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Financial Institutions during the third quarter worth $164,000. Institutional investors own 60.45% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

Financial Institutions Stock Performance

Shares of Financial Institutions stock opened at $27.16 on Monday. The stock’s fifty day simple moving average is $25.78 and its 200 day simple moving average is $23.11. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $420.17 million, a PE ratio of 8.54 and a beta of 0.90. Financial Institutions has a 12 month low of $16.29 and a 12 month high of $29.14.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 EPS 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 company had revenue of $50.12 million for the quarter. During the same period in the prior year, the business earned $0.88 EPS. On average, research analysts predict that Financial Institutions will post 3.6 EPS for the current year.

Financial Institutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Friday, December 13th. Financial Institutions’s payout ratio is currently 37.74%.

About Financial Institutions

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.