Financial Institutions, Inc. (FISI) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. reduced its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 462,306 shares of the bank’s stock after selling 15,877 shares during the quarter. Financial Institutions makes up about 2.6% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 5th biggest holding. Canandaigua National Bank & Trust Co. owned about 2.96% of Financial Institutions worth $14,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FISI. Wells Fargo & Company MN boosted its holdings in shares of Financial Institutions by 1.7% during the 2nd quarter. Wells Fargo & Company MN now owns 9,351 shares of the bank’s stock valued at $279,000 after buying an additional 159 shares in the last quarter. Brandywine Global Investment Management LLC boosted its holdings in shares of Financial Institutions by 17.4% during the 2nd 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 in the last quarter. Teachers Advisors LLC boosted its holdings in shares of Financial Institutions by 3.3% during the 2nd quarter. Teachers Advisors LLC now owns 24,496 shares of the bank’s stock valued at $730,000 after buying an additional 777 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Financial Institutions by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,560 shares of the bank’s stock valued at $374,000 after buying an additional 860 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of Financial Institutions by 9.1% during the 3rd quarter. Strs Ohio now owns 25,200 shares of the bank’s stock valued at $725,000 after buying an additional 2,100 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Martin Kearney Birmingham purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average price of $31.65 per share, for a total transaction of $31,650.00. Following the purchase, the chief executive officer now directly owns 82,916 shares in the company, valued at approximately $2,624,291.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew W. Dorn, Jr. purchased 1,557 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $30.95 per share, for a total transaction of $48,189.15. Following the purchase, the director now owns 16,999 shares in the company, valued at $526,119.05. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 6,496 shares of company stock worth $207,123. 5.49% of the stock is currently owned by company insiders.

Shares of Financial Institutions, Inc. (FISI) traded up $0.30 during trading on Thursday, reaching $30.95. 36,500 shares of the company were exchanged, compared to its average volume of 49,016. The company has a market cap of $478.95, a PE ratio of 15.80 and a beta of 1.16. Financial Institutions, Inc. has a 52 week low of $25.65 and a 52 week high of $35.40. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Monday, January 29th. The bank reported $0.50 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.50. The company had revenue of $38.75 million for the quarter. Financial Institutions had a net margin of 20.34% and a return on equity of 9.31%. research analysts anticipate that Financial Institutions, Inc. will post 2.34 earnings per share for the current fiscal year.

FISI has been the topic of a number of research reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $33.00 target price on shares of Financial Institutions in a report on Thursday, October 26th. BidaskClub cut shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, Hovde Group restated a “buy” rating and set a $36.00 target price on shares of Financial Institutions in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $33.50.

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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.

Institutional Ownership by Quarter for Financial Institutions (NASDAQ:FISI)

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