Financial Institutions, Inc. (NASDAQ:FISI) Director Robert N. Latella Purchases 4,000 Shares of Stock

Financial Institutions, Inc. (NASDAQ:FISI) Director Robert N. Latella acquired 4,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Financial Institutions Stock Performance

NASDAQ:FISI opened at $28.92 on Tuesday. The stock has a 50-day moving average price of $26.23 and a 200 day moving average price of $23.74. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. Financial Institutions, Inc. has a 12-month low of $16.29 and a 12-month high of $29.14. The stock has a market capitalization of $447.51 million, a P/E ratio of 9.09 and a beta of 0.92.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter. During the same quarter in the previous year, the business earned $0.88 EPS. Equities research analysts forecast that Financial Institutions, Inc. will post 3.66 EPS for the current fiscal year.

Financial Institutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Friday, December 13th. Financial Institutions’s dividend payout ratio (DPR) is presently 37.74%.

Institutional Investors Weigh In On Financial Institutions

Several large investors have recently made changes to their positions in the company. Barclays PLC grew its holdings in Financial Institutions by 48.4% during the 3rd quarter. Barclays PLC now owns 44,798 shares of the bank’s stock valued at $1,141,000 after buying an additional 14,606 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Financial Institutions by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 354,685 shares of the bank’s stock valued at $9,036,000 after acquiring an additional 7,045 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Financial Institutions in the third quarter valued at $224,000. Zacks Investment Management bought a new stake in Financial Institutions in the third quarter worth $4,706,000. Finally, State Street Corp raised its stake in Financial Institutions by 6.5% during the third quarter. State Street Corp now owns 283,707 shares of the bank’s stock valued at $7,309,000 after purchasing an additional 17,395 shares in the last quarter. 60.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Financial Institutions from $27.00 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Financial Institutions from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th.

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.