Financial Institutions, Inc. (FISI) Director Acquires $11,990.60 in Stock
Financial Institutions, Inc. (NASDAQ:FISI) Director Donald Boswell acquired 359 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were bought at an average price of $33.40 per share, with a total value of $11,990.60. Following the completion of the purchase, the director now directly owns 1,635 shares in the company, valued at $54,609. The acquisition was disclosed in a document filed with the SEC, which is available through this link.
Financial Institutions, Inc. (FISI) traded up $0.05 during trading on Friday, reaching $33.10. The company’s stock had a trading volume of 45,207 shares, compared to its average volume of 65,994. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. Financial Institutions, Inc. has a 52 week low of $25.65 and a 52 week high of $35.40. The stock has a market capitalization of $517.22, a PE ratio of 16.47 and a beta of 1.25.
Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. Financial Institutions had a return on equity of 9.66% and a net margin of 19.46%. The company had revenue of $37.01 million during the quarter. equities research analysts predict that Financial Institutions, Inc. will post 1.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, December 13th. This is a boost from Financial Institutions’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.66%. Financial Institutions’s dividend payout ratio (DPR) is 41.79%.
Institutional investors have recently added to or reduced their stakes in the business. Brandywine Global Investment Management LLC raised its stake in Financial Institutions by 17.4% in the second quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock valued at $142,000 after buying an additional 702 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Financial Institutions in the third quarter valued at about $139,000. Dynamic Technology Lab Private Ltd purchased a new stake in Financial Institutions in the second quarter valued at about $216,000. Virtu KCG Holdings LLC purchased a new stake in Financial Institutions in the second quarter valued at about $219,000. Finally, Smith Asset Management Group LP raised its stake in Financial Institutions by 820.2% in the second quarter. Smith Asset Management Group LP now owns 7,638 shares of the bank’s stock valued at $228,000 after buying an additional 6,808 shares during the last quarter. Institutional investors own 69.31% of the company’s stock.
A number of brokerages recently weighed in on FISI. Keefe, Bruyette & Woods restated a “hold” rating and set a $33.00 price objective on shares of Financial Institutions in a research note on Thursday, October 26th. Piper Jaffray Companies restated a “hold” rating and set a $31.50 price objective on shares of Financial Institutions in a research note on Wednesday, October 4th. Finally, ValuEngine upgraded Financial Institutions from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd.
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Financial Institutions Company Profile
Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.
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