Jane Street Group LLC Sells 461 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

Jane Street Group LLC cut its position in Financial Institutions, Inc. (NASDAQ:FISI) by 3.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,089 shares of the bank’s stock after selling 461 shares during the quarter. Jane Street Group LLC’s holdings in Financial Institutions were worth $384,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FISI. Bank of New York Mellon Corp raised its holdings in Financial Institutions by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 155,257 shares of the bank’s stock worth $3,000,000 after purchasing an additional 2,653 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Financial Institutions by 25.0% in the second quarter. Victory Capital Management Inc. now owns 37,500 shares of the bank’s stock worth $724,000 after purchasing an additional 7,500 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Financial Institutions by 8.7% in the second quarter. Acadian Asset Management LLC now owns 324,263 shares of the bank’s stock worth $6,263,000 after purchasing an additional 25,865 shares in the last quarter. American Century Companies Inc. raised its holdings in Financial Institutions by 10.5% in the second quarter. American Century Companies Inc. now owns 267,576 shares of the bank’s stock worth $5,170,000 after purchasing an additional 25,439 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Financial Institutions by 9.0% in the second quarter. Renaissance Technologies LLC now owns 332,500 shares of the bank’s stock worth $6,424,000 after purchasing an additional 27,400 shares in the last quarter. 60.45% of the stock is currently owned by institutional investors.

Financial Institutions Price Performance

Shares of NASDAQ FISI opened at $26.25 on Thursday. The business’s 50 day moving average price is $26.91 and its 200 day moving average price is $24.91. The firm has a market cap of $406.19 million, a P/E ratio of 8.25 and a beta of 0.91. Financial Institutions, Inc. has a 52 week low of $16.29 and a 52 week high of $29.34. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26.

Financial Institutions (NASDAQ:FISI) last issued its earnings results on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $50.12 million for the quarter. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. During the same quarter in the prior year, the company earned $0.88 EPS. On average, sell-side analysts expect that Financial Institutions, Inc. will post 3.66 earnings per share for the current year.

Financial Institutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 4.57%. Financial Institutions’s dividend payout ratio is currently 37.74%.

Insider Activity at Financial Institutions

In related news, Director Robert N. Latella acquired 4,000 shares of the stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the transaction, the director now owns 16,000 shares in the company, valued at approximately $400,000. This trade represents a 33.33 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.68% of the stock is owned by insiders.

Analysts Set New Price Targets

FISI has been the topic of several recent analyst reports. StockNews.com downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Piper Sandler initiated coverage on shares of Financial Institutions in a report on Friday, December 20th. They set an “overweight” rating and a $33.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Financial Institutions from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Financial Institutions Profile

Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.