Canandaigua National Bank & Trust Co. Lowers Position in Financial Institutions, Inc. (NASDAQ:FISI)

Canandaigua National Bank & Trust Co. trimmed its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,860 shares of the bank’s stock after selling 5,592 shares during the quarter. Canandaigua National Bank & Trust Co. owned approximately 1.88% of Financial Institutions worth $7,383,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quadrature Capital Ltd raised its holdings in Financial Institutions by 35.6% in the 4th quarter. Quadrature Capital Ltd now owns 31,260 shares of the bank’s stock worth $666,000 after purchasing an additional 8,206 shares during the period. Courier Capital LLC raised its stake in shares of Financial Institutions by 55.8% during the 1st quarter. Courier Capital LLC now owns 338,686 shares of the bank’s stock worth $6,374,000 after buying an additional 121,233 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Financial Institutions by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock valued at $166,000 after buying an additional 742 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Financial Institutions by 31.4% during the 1st quarter. BNP Paribas Financial Markets now owns 24,797 shares of the bank’s stock valued at $467,000 after buying an additional 5,922 shares in the last quarter. Finally, PL Capital Advisors LLC grew its stake in Financial Institutions by 59.6% in the 1st quarter. PL Capital Advisors LLC now owns 301,281 shares of the bank’s stock valued at $5,670,000 after acquiring an additional 112,481 shares during the period. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on FISI. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $25.00 price objective (up from $20.00) on shares of Financial Institutions in a report on Monday, July 29th. StockNews.com lowered Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday.

Financial Institutions Price Performance

Financial Institutions stock opened at $24.40 on Friday. The company has a fifty day simple moving average of $24.96 and a 200-day simple moving average of $20.73. The firm has a market capitalization of $376.91 million, a price-to-earnings ratio of 9.72 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.28. Financial Institutions, Inc. has a 52-week low of $15.22 and a 52-week high of $27.75.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.92. The company had revenue of $102.80 million during the quarter. Financial Institutions had a net margin of 13.95% and a return on equity of 12.06%. During the same quarter in the previous year, the company posted $0.91 EPS. On average, equities analysts anticipate that Financial Institutions, Inc. will post 3.64 EPS for the current fiscal year.

Financial Institutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Friday, September 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date was Friday, September 13th. Financial Institutions’s dividend payout ratio (DPR) is currently 47.81%.

Financial Institutions Company 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.