Endeavour Capital Advisors Inc. Makes New Investment in Financial Institutions, Inc. (NASDAQ:FISI)

Endeavour Capital Advisors Inc. purchased a new position in shares of Financial Institutions, Inc. (NASDAQ:FISI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 115,494 shares of the bank’s stock, valued at approximately $3,152,000. Financial Institutions makes up 1.0% of Endeavour Capital Advisors Inc.’s investment portfolio, making the stock its 27th largest position.

Several other institutional investors have also made changes to their positions in FISI. Franklin Resources Inc. lifted its position in shares of Financial Institutions by 334.6% in the fourth quarter. Franklin Resources Inc. now owns 77,956 shares of the bank’s stock worth $2,127,000 after buying an additional 60,018 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Financial Institutions by 1,409.9% in the 4th quarter. Alliancebernstein L.P. now owns 231,010 shares of the bank’s stock worth $6,304,000 after purchasing an additional 215,710 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Financial Institutions in the 4th quarter worth approximately $18,294,000. JPMorgan Chase & Co. boosted its holdings in shares of Financial Institutions by 239.5% during the 4th quarter. JPMorgan Chase & Co. now owns 61,484 shares of the bank’s stock worth $1,678,000 after buying an additional 43,376 shares during the period. Finally, Segall Bryant & Hamill LLC raised its holdings in Financial Institutions by 56.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 83,686 shares of the bank’s stock worth $2,284,000 after acquiring an additional 30,130 shares during the period. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Financial Institutions Trading Down 0.5 %

Shares of FISI opened at $24.84 on Wednesday. The stock’s 50-day moving average price is $27.09 and its 200 day moving average price is $26.59. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $498.74 million, a price-to-earnings ratio of -17.13 and a beta of 0.86. Financial Institutions, Inc. has a 12-month low of $16.29 and a 12-month high of $29.79.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Thursday, January 30th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.20). Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. As a group, research analysts predict that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 14th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.99%. This is an increase from Financial Institutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, March 14th. Financial Institutions’s dividend payout ratio (DPR) is presently -85.52%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FISI. Piper Sandler began coverage on shares of Financial Institutions in a report on Friday, December 20th. They set an “overweight” rating and a $33.00 price target for the company. Stephens restated an “equal weight” rating and set a $32.00 target price on shares of Financial Institutions in a research note on Tuesday, March 11th. StockNews.com raised Financial Institutions from a “sell” rating to a “hold” rating in a research report on Tuesday, February 11th. Finally, Keefe, Bruyette & Woods raised Financial Institutions from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $29.00 to $34.00 in a research report on Monday, February 3rd.

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.