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

Financial Institutions, Inc. (NASDAQ:FISI) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 376,200 shares, a growth of 20.3% from the January 31st total of 312,800 shares. Based on an average daily trading volume, of 141,000 shares, the short-interest ratio is presently 2.7 days.

Financial Institutions Price Performance

Shares of Financial Institutions stock opened at $26.90 on Friday. The company has a 50-day simple moving average of $27.43 and a two-hundred day simple moving average of $26.50. Financial Institutions has a twelve month low of $16.29 and a twelve month high of $29.79. The stock has a market capitalization of $416.25 million, a price-to-earnings ratio of -18.55 and a beta of 0.90. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26.

Financial Institutions (NASDAQ:FISI) last issued its quarterly 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 negative net margin of 6.69% and a positive return on equity of 11.12%. Analysts forecast that Financial Institutions will post 3.3 EPS for the current year.

Financial Institutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 14th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.61%. This is an increase from Financial Institutions’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, March 14th. Financial Institutions’s dividend payout ratio is presently -85.52%.

Insider Buying and Selling at Financial Institutions

In related news, Director Robert N. Latella acquired 4,000 shares of Financial Institutions stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $25.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director now directly owns 16,000 shares in the company, valued at $400,000. This trade represents a 33.33 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Financial Institutions in the 4th quarter valued at approximately $30,000. Picton Mahoney Asset Management boosted its position in Financial Institutions by 45.5% in the fourth quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank’s stock valued at $32,000 after buying an additional 374 shares in the last quarter. US Bancorp DE boosted its position in Financial Institutions by 119.3% in the third 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 in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Financial Institutions during the 4th quarter worth $87,000. Finally, SG Americas Securities LLC increased its holdings in Financial Institutions by 14.9% in the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock worth $202,000 after purchasing an additional 964 shares in the last quarter. Institutional investors own 60.45% of the company’s stock.

Analysts Set New Price Targets

FISI has been the topic of a number of research reports. Keefe, Bruyette & Woods upgraded shares of Financial Institutions from a “market perform” rating to an “outperform” rating and upped their price target for the company from $29.00 to $34.00 in a research note on Monday, February 3rd. Piper Sandler started coverage on Financial Institutions in a research report on Friday, December 20th. They issued an “overweight” rating and a $33.00 target price 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. Finally, StockNews.com upgraded Financial Institutions from a “sell” rating to a “hold” rating in a research note on Tuesday, February 11th.

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.