Insider Buying: Financial Institutions, Inc. (FISI) CEO Acquires 2,000 Shares of Stock

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Financial Institutions, Inc. (NASDAQ:FISI) CEO Martin Kearney Birmingham purchased 2,000 shares of the business’s stock in a transaction on Tuesday, October 30th. The stock was acquired at an average price of $28.44 per share, for a total transaction of $56,880.00. Following the completion of the purchase, the chief executive officer now owns 74,596 shares of the company’s stock, valued at $2,121,510.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Martin Kearney Birmingham also recently made the following trade(s):

  • On Tuesday, August 21st, Martin Kearney Birmingham purchased 1,500 shares of Financial Institutions stock. The stock was acquired at an average price of $31.95 per share, for a total transaction of $47,925.00.

Financial Institutions stock traded up $0.27 during midday trading on Tuesday, reaching $28.42. The company’s stock had a trading volume of 2,708 shares, compared to its average volume of 64,896. Financial Institutions, Inc. has a fifty-two week low of $26.48 and a fifty-two week high of $34.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $439.21 million, a PE ratio of 14.61 and a beta of 0.97.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Thursday, October 25th. The bank reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. Financial Institutions had a return on equity of 11.00% and a net margin of 23.61%. The company had revenue of $40.72 million for the quarter, compared to analysts’ expectations of $39.20 million. On average, research analysts expect that Financial Institutions, Inc. will post 2.54 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Thursday, September 13th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Wednesday, September 12th. Financial Institutions’s dividend payout ratio (DPR) is currently 49.48%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Financial Institutions by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,246,022 shares of the bank’s stock worth $40,994,000 after purchasing an additional 56,106 shares in the last quarter. BlackRock Inc. increased its position in shares of Financial Institutions by 2.4% during the second quarter. BlackRock Inc. now owns 1,198,983 shares of the bank’s stock worth $39,445,000 after purchasing an additional 28,324 shares in the last quarter. LSV Asset Management increased its position in shares of Financial Institutions by 9.7% during the second quarter. LSV Asset Management now owns 479,178 shares of the bank’s stock worth $15,764,000 after purchasing an additional 42,300 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Financial Institutions by 0.8% during the second quarter. Renaissance Technologies LLC now owns 323,200 shares of the bank’s stock worth $10,633,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Financial Institutions by 4.6% during the second quarter. Northern Trust Corp now owns 304,931 shares of the bank’s stock worth $10,033,000 after purchasing an additional 13,316 shares in the last quarter. Institutional investors and hedge funds own 70.06% of the company’s stock.

A number of analysts have weighed in on FISI shares. Zacks Investment Research upgraded Financial Institutions from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Thursday, August 2nd. BidaskClub cut Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. Finally, ValuEngine cut Financial Institutions from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Financial Institutions currently has an average rating of “Hold” and an average target price of $35.33.

About Financial Institutions

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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Insider Buying and Selling by Quarter for Financial Institutions (NASDAQ:FISI)

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