Dynamic Technology Lab Private Ltd Acquires Shares of 14,261 Financial Institutions, Inc. (FISI)

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Dynamic Technology Lab Private Ltd acquired a new position in shares of Financial Institutions, Inc. (NASDAQ:FISI) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,261 shares of the bank’s stock, valued at approximately $422,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Financial Institutions during the first quarter worth approximately $141,000. MetLife Investment Advisors LLC bought a new stake in Financial Institutions during the fourth quarter worth approximately $201,000. UBS Asset Management Americas Inc. bought a new stake in Financial Institutions during the fourth quarter worth approximately $224,000. LPL Financial LLC bought a new stake in Financial Institutions during the first quarter worth approximately $311,000. Finally, Schroder Investment Management Group increased its stake in Financial Institutions by 70.4% during the fourth quarter. Schroder Investment Management Group now owns 10,949 shares of the bank’s stock worth $341,000 after acquiring an additional 4,524 shares during the last quarter. 69.70% of the stock is currently owned by institutional investors.

In other Financial Institutions news, insider David G. Case sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $33.10, for a total transaction of $26,480.00. Following the completion of the transaction, the insider now owns 4,242 shares in the company, valued at $140,410.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.34% of the stock is owned by insiders.

FISI has been the topic of several analyst reports. ValuEngine raised Financial Institutions from a “hold” rating to a “buy” rating in a research note on Wednesday, April 11th. Zacks Investment Research raised Financial Institutions from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, May 16th. BidaskClub raised Financial Institutions from a “hold” rating to a “buy” rating in a research note on Tuesday, May 8th. Finally, Keefe, Bruyette & Woods cut Financial Institutions to a “market perform” rating and set a $35.00 price objective on the stock. in a research note on Thursday, March 15th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Financial Institutions currently has a consensus rating of “Hold” and an average price target of $34.38.

Shares of Financial Institutions opened at $33.05 on Wednesday, Marketbeat Ratings reports. Financial Institutions, Inc. has a 1 year low of $25.65 and a 1 year high of $34.35. The company has a market cap of $523.29 million, a price-to-earnings ratio of 17.04 and a beta of 1.13. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.11.

Financial Institutions (NASDAQ:FISI) last announced its earnings results on Thursday, April 26th. The bank reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.01). Financial Institutions had a net margin of 20.41% and a return on equity of 9.10%. The business had revenue of $38.61 million for the quarter. analysts anticipate that Financial Institutions, Inc. will post 2.4 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 2nd. Shareholders of record on Thursday, June 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.90%. Financial Institutions’s dividend payout ratio (DPR) is presently 49.48%.

Financial Institutions Profile

Financial Institutions, Inc operates as the holding company for Five Star Bank that provides banking and financial services to individuals, municipalities, and businesses. It operates in two segments, Banking and Non-Banking. The company offers checking and savings account programs, including money market accounts, certificates of deposit, and sweep investments, as well as individual retirement and other qualified plan accounts.

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

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