Canandaigua National Bank & Trust Co. Sells 895 Shares of Financial Institutions Inc. (FISI)
Canandaigua National Bank & Trust Co. decreased its stake in Financial Institutions Inc. (NASDAQ:FISI) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 558,658 shares of the company’s stock after selling 895 shares during the period. Financial Institutions accounts for 4.1% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 2nd largest position. Canandaigua National Bank & Trust Co.’s holdings in Financial Institutions were worth $14,564,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Strs Ohio raised its stake in shares of Financial Institutions by 8.1% in the second quarter. Strs Ohio now owns 17,400 shares of the company’s stock valued at $453,000 after buying an additional 1,300 shares during the period. Bank of Montreal Can acquired a new stake in shares of Financial Institutions during the second quarter valued at $208,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Financial Institutions by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 10,121 shares of the company’s stock valued at $294,000 after buying an additional 29 shares during the period. Renaissance Technologies LLC raised its stake in shares of Financial Institutions by 17.6% in the first quarter. Renaissance Technologies LLC now owns 90,200 shares of the company’s stock valued at $2,622,000 after buying an additional 13,500 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Financial Institutions by 3.3% in the first quarter. Wellington Management Group LLP now owns 1,090,228 shares of the company’s stock valued at $31,693,000 after buying an additional 34,907 shares during the period. 59.30% of the stock is currently owned by institutional investors and hedge funds.
Financial Institutions Inc. (NASDAQ:FISI) traded down 0.15% on Tuesday, reaching $26.82. The company had a trading volume of 15,487 shares. Financial Institutions Inc. has a 12 month low of $24.05 and a 12 month high of $29.53. The firm has a market capitalization of $387.66 million, a PE ratio of 13.61 and a beta of 1.08. The stock has a 50 day moving average of $26.72 and a 200 day moving average of $27.30.
Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.01. Financial Institutions had a net margin of 20.63% and a return on equity of 10.28%. On average, analysts anticipate that Financial Institutions Inc. will post $1.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, September 8th. Financial Institutions’s dividend payout ratio (DPR) is presently 40.61%.
Separately, Keefe, Bruyette & Woods raised their target price on Financial Institutions from $26.00 to $27.00 and gave the stock a “market perform” rating in a research report on Thursday, July 28th.
In other news, CEO Martin Kearney Birmingham purchased 5,000 shares of the stock in a transaction on Wednesday, August 17th. The stock was purchased at an average price of $26.64 per share, with a total value of $133,200.00. Following the completion of the transaction, the chief executive officer now owns 85,632 shares in the company, valued at $2,281,236.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William L. Kreienberg purchased 3,000 shares of the stock in a transaction on Wednesday, August 17th. The shares were purchased at an average cost of $26.43 per share, with a total value of $79,290.00. Following the transaction, the chief accounting officer now owns 4,485 shares of the company’s stock, valued at approximately $118,538.55. The disclosure for this purchase can be found here. Company insiders own 6.23% of the company’s stock.
Financial Institutions Company Profile
Financial Institutions, Inc (FII) is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank, and Scott Danahy Naylon, LLC (SDN), a full service insurance agency. The Company offers an array of deposit, lending, insurance services and other financial services to individuals, municipalities and businesses in Western and Central New York through the Bank.
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