Financial Institutions, Inc. (NASDAQ:FISI) Shares Purchased by Barclays PLC

Barclays PLC boosted its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 48.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 44,798 shares of the bank’s stock after purchasing an additional 14,606 shares during the quarter. Barclays PLC’s holdings in Financial Institutions were worth $1,141,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. PL Capital Advisors LLC raised its holdings in shares of Financial Institutions by 408.0% in the 3rd quarter. PL Capital Advisors LLC now owns 1,771,516 shares of the bank’s stock worth $45,121,000 after purchasing an additional 1,422,765 shares in the last quarter. Zacks Investment Management bought a new position in shares of Financial Institutions in the third quarter valued at $4,706,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Financial Institutions during the 3rd quarter valued at $1,364,000. AQR Capital Management LLC boosted its stake in shares of Financial Institutions by 147.3% during the 2nd quarter. AQR Capital Management LLC now owns 63,213 shares of the bank’s stock worth $1,221,000 after acquiring an additional 37,653 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Financial Institutions by 9.0% in the 2nd quarter. Renaissance Technologies LLC now owns 332,500 shares of the bank’s stock worth $6,424,000 after acquiring an additional 27,400 shares during the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.

Financial Institutions Price Performance

NASDAQ FISI opened at $25.80 on Tuesday. The company has a 50 day moving average price of $27.06 and a two-hundred day moving average price of $25.14. Financial Institutions, Inc. has a 12-month low of $16.29 and a 12-month high of $29.34. The stock has a market capitalization of $399.23 million, a PE ratio of 8.11 and a beta of 0.91. 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 quarterly earnings data on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. The firm had revenue of $50.12 million during the quarter. During the same quarter in the prior year, the company posted $0.88 earnings per share. As a group, equities analysts predict that Financial Institutions, Inc. will post 3.66 earnings per share for the current fiscal year.

Financial Institutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a $0.30 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 4.65%. Financial Institutions’s dividend payout ratio is 37.74%.

Analysts Set New Price Targets

Several equities research analysts recently commented on FISI shares. StockNews.com downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Piper Sandler assumed coverage on Financial Institutions in a research report on Friday, December 20th. They issued an “overweight” rating and a $33.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their price target on Financial Institutions from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Insider Transactions at Financial Institutions

In other Financial Institutions news, Director Robert N. Latella purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $25.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $400,000. This trade represents a 33.33 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.68% of the company’s stock.

About Financial Institutions

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.