Fourthstone LLC Invests $518,000 in Financial Institutions, Inc. (NASDAQ:FISI)

Fourthstone LLC purchased a new position in shares of Financial Institutions, Inc. (NASDAQ:FISI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,350 shares of the bank’s stock, valued at approximately $518,000. Fourthstone LLC owned approximately 0.13% of Financial Institutions at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Financial Institutions by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 784,928 shares of the bank’s stock worth $14,772,000 after purchasing an additional 16,462 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Financial Institutions during the first quarter worth about $98,000. CWM LLC raised its position in shares of Financial Institutions by 150.4% in the 2nd quarter. CWM LLC now owns 5,438 shares of the bank’s stock valued at $105,000 after buying an additional 3,266 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Financial Institutions by 11.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,276 shares of the bank’s stock worth $237,000 after acquiring an additional 1,216 shares in the last quarter. Finally, PL Capital Advisors LLC raised its position in Financial Institutions by 15.8% during the second quarter. PL Capital Advisors LLC now owns 348,751 shares of the bank’s stock valued at $6,738,000 after purchasing an additional 47,470 shares in the last quarter. 60.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

Financial Institutions Trading Down 1.6 %

NASDAQ FISI traded down $0.45 on Thursday, reaching $26.92. The company had a trading volume of 109,623 shares, compared to its average volume of 50,691. The firm has a market cap of $416.45 million, a price-to-earnings ratio of 8.47 and a beta of 0.90. Financial Institutions, Inc. has a fifty-two week low of $16.29 and a fifty-two week high of $29.14. The business has a 50 day moving average of $25.76 and a two-hundred day moving average of $22.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86.

Financial Institutions (NASDAQ:FISI) last announced its earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share 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 business had revenue of $50.12 million during the quarter. During the same period in the prior year, the business earned $0.88 EPS. Analysts forecast that Financial Institutions, Inc. will post 3.6 EPS for the current year.

Financial Institutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Friday, December 13th. Financial Institutions’s payout ratio is 37.74%.

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.