Financial Institutions, Inc. (FISI) SVP Purchases $17,634.40 in Stock
Financial Institutions, Inc. (NASDAQ:FISI) SVP Michael D. Burneal acquired 560 shares of the company’s stock in a transaction on Monday, November 20th. The stock was acquired at an average price of $31.49 per share, with a total value of $17,634.40. Following the purchase, the senior vice president now directly owns 3,697 shares in the company, valued at $116,418.53. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Financial Institutions, Inc. (FISI) traded up $0.05 during trading hours on Wednesday, hitting $31.90. 62,400 shares of the stock traded hands, compared to its average volume of 60,899. The firm has a market cap of $497.70, a PE ratio of 15.85 and a beta of 1.26. Financial Institutions, Inc. has a one year low of $25.65 and a one year high of $35.40. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11.
Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Tuesday, October 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. The business had revenue of $37.01 million during the quarter. Financial Institutions had a net margin of 19.46% and a return on equity of 9.66%. sell-side analysts forecast that Financial Institutions, Inc. will post 1.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Thursday, December 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.76%. This is a boost from Financial Institutions’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, December 13th. Financial Institutions’s dividend payout ratio is currently 41.79%.
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Hedge funds have recently added to or reduced their stakes in the stock. Brandywine Global Investment Management LLC increased its position in Financial Institutions by 17.4% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock worth $142,000 after purchasing an additional 702 shares in the last quarter. SG Americas Securities LLC acquired a new position in Financial Institutions during the 3rd quarter worth approximately $139,000. Dynamic Technology Lab Private Ltd acquired a new position in Financial Institutions during the 2nd quarter worth approximately $216,000. Virtu KCG Holdings LLC acquired a new position in Financial Institutions during the 2nd quarter worth approximately $219,000. Finally, Smith Asset Management Group LP grew its holdings in Financial Institutions by 820.2% during the 2nd quarter. Smith Asset Management Group LP now owns 7,638 shares of the bank’s stock worth $228,000 after acquiring an additional 6,808 shares during the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.
Several equities analysts have recently commented on the stock. ValuEngine cut shares of Financial Institutions from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $33.00 target price on shares of Financial Institutions in a research report on Thursday, October 26th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $31.50 target price on shares of Financial Institutions in a research report on Wednesday, October 4th.
About Financial Institutions
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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