Federated Investors Inc. PA boosted its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 808.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,761 shares of the company’s stock after buying an additional 8,687 shares during the period. Federated Investors Inc. PA’s holdings in Financial Institutions were worth $334,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. boosted its stake in Financial Institutions by 1,025.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 4,500 shares of the company’s stock worth $122,000 after buying an additional 4,100 shares during the period. Wells Fargo & Company MN boosted its stake in Financial Institutions by 28.1% in the third quarter. Wells Fargo & Company MN now owns 4,886 shares of the company’s stock worth $132,000 after buying an additional 1,072 shares during the period. Acrospire Investment Management LLC boosted its stake in Financial Institutions by 227.4% in the third quarter. Acrospire Investment Management LLC now owns 5,213 shares of the company’s stock worth $141,000 after buying an additional 3,621 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in Financial Institutions during the fourth quarter worth about $218,000. Finally, IFC Holdings Incorporated FL boosted its stake in Financial Institutions by 0.8% in the third quarter. IFC Holdings Incorporated FL now owns 9,222 shares of the company’s stock worth $250,000 after buying an additional 72 shares during the period. Institutional investors own 61.49% of the company’s stock.
Shares of Financial Institutions, Inc. (NASDAQ:FISI) opened at 31.75 on Tuesday. Financial Institutions, Inc. has a 1-year low of $24.56 and a 1-year high of $35.40. The company has a 50 day moving average of $33.66 and a 200 day moving average of $30.94. The company has a market cap of $457.93 million, a PE ratio of 15.12 and a beta of 1.04.
Financial Institutions (NASDAQ:FISI) last issued its earnings results on Tuesday, January 24th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. Financial Institutions had a net margin of 21.15% and a return on equity of 10.52%. Equities analysts expect that Financial Institutions, Inc. will post $2.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Tuesday, March 14th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, March 10th. Financial Institutions’s payout ratio is 40.00%.
Separately, Hovde Group started coverage on shares of Financial Institutions in a research note on Monday, March 20th. They issued an “outperform” rating for the company.
In related news, Director John E. Benjamin sold 1,700 shares of Financial Institutions stock in a transaction on Monday, January 30th. The shares were sold at an average price of $33.84, for a total value of $57,528.00. Following the transaction, the director now directly owns 21,555 shares of the company’s stock, valued at $729,421.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.23% of the stock is owned by insiders.
About Financial Institutions
Financial Institutions, Inc (FII) is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank, and Scott Danahy Naylon, LLC (SDN), a full service insurance agency. The Company offers an array of deposit, lending, insurance services and other financial services to individuals, municipalities and businesses in Western and Central New York through the Bank.
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