Gator Capital Management LLC Invests $273,000 in Financial Institutions, Inc. (NASDAQ:FISI)

Gator Capital Management LLC acquired a new stake in Financial Institutions, Inc. (NASDAQ:FISI) in the 4th quarter, Holdings Channel reports. The fund acquired 10,000 shares of the bank’s stock, valued at approximately $273,000.

A number of other institutional investors also recently bought and sold shares of the stock. R Squared Ltd purchased a new position in shares of Financial Institutions in the fourth quarter worth $30,000. Picton Mahoney Asset Management increased its position in shares of Financial Institutions by 45.5% in the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank’s stock valued at $32,000 after acquiring an additional 374 shares during the period. SG Americas Securities LLC raised its stake 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 acquiring an additional 964 shares during the last quarter. XTX Topco Ltd acquired a new stake in Financial Institutions during the 3rd quarter worth about $224,000. Finally, Wells Fargo & Company MN grew its stake in Financial Institutions by 14.3% during the 4th quarter. Wells Fargo & Company MN now owns 9,130 shares of the bank’s stock valued at $249,000 after purchasing an additional 1,141 shares during the last quarter. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Financial Institutions Price Performance

NASDAQ:FISI opened at $22.12 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50 day moving average price of $26.87 and a 200-day moving average price of $26.53. Financial Institutions, Inc. has a 1-year low of $16.29 and a 1-year high of $29.79. The firm has a market cap of $444.13 million, a price-to-earnings ratio of -15.26 and a beta of 0.86.

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

Financial Institutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 14th were issued a $0.31 dividend. This is a boost from Financial Institutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 5.61%. Financial Institutions’s dividend payout ratio is presently -85.52%.

Wall Street Analysts Forecast Growth

FISI has been the subject of a number of research reports. StockNews.com raised Financial Institutions from a “sell” rating to a “hold” rating in a report on Tuesday, February 11th. Piper Sandler assumed coverage on shares of Financial Institutions in a report on Friday, December 20th. They issued an “overweight” rating and a $33.00 price objective on the stock. Stephens reissued an “equal weight” rating and set a $32.00 target price on shares of Financial Institutions in a report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods raised 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 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.