SG Americas Securities LLC Boosts Stake in Financial Institutions, Inc. (NASDAQ:FISI)

SG Americas Securities LLC boosted its position in Financial Institutions, Inc. (NASDAQ:FISI) by 14.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,418 shares of the bank’s stock after purchasing an additional 964 shares during the period. SG Americas Securities LLC’s holdings in Financial Institutions were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in FISI. US Bancorp DE raised 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 valued at $66,000 after buying an additional 1,399 shares during the last quarter. CWM LLC grew its holdings in Financial Institutions by 50.3% during the third quarter. CWM LLC now owns 8,172 shares of the bank’s stock worth $208,000 after acquiring an additional 2,734 shares during the period. Stonebrook Private Inc. acquired a new stake in Financial Institutions during the third quarter worth about $218,000. EMC Capital Management raised its position in Financial Institutions by 23.0% during the third quarter. EMC Capital Management now owns 8,709 shares of the bank’s stock valued at $222,000 after acquiring an additional 1,629 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Financial Institutions in the third quarter valued at approximately $224,000. 60.45% of the stock is owned by hedge funds and other institutional investors.

Financial Institutions Trading Down 1.4 %

Shares of Financial Institutions stock opened at $27.93 on Friday. 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, Inc. has a twelve month low of $16.29 and a twelve month high of $29.34. The firm has a market capitalization of $432.08 million, a PE ratio of -19.26 and a beta of 0.90. The firm’s 50-day moving average price is $27.09 and its 200 day moving average price is $25.93.

Financial Institutions (NASDAQ:FISI) last released its earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.20). Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. On average, sell-side analysts predict that Financial Institutions, Inc. will post 3.39 EPS for the current fiscal year.

Financial Institutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 4.30%. Financial Institutions’s dividend payout ratio (DPR) is presently -82.76%.

Insider Transactions at Financial Institutions

In other Financial Institutions news, Director Robert N. Latella purchased 4,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now owns 16,000 shares of the company’s stock, valued at $400,000. The trade was a 33.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Stephens reissued an “equal weight” rating and set a $33.00 price target on shares of Financial Institutions in a report on Friday, January 31st. Keefe, Bruyette & Woods raised shares of Financial Institutions from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $29.00 to $34.00 in a research note on Monday, February 3rd. Piper Sandler initiated coverage on Financial Institutions in a research report on Friday, December 20th. They set an “overweight” rating and a $33.00 target price on the stock. Finally, StockNews.com cut Financial Institutions from a “hold” rating to a “sell” rating in a report on Monday, February 3rd.

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.