Investment analysts at Hovde Group initiated coverage on shares of Financial Institutions, Inc. (NASDAQ:FISI) in a research report issued on Monday. The brokerage set an “outperform” rating on the stock.
Financial Institutions (NASDAQ:FISI) traded down 1.78% on Monday, reaching $33.15. The company had a trading volume of 15,422 shares. The company has a 50-day moving average of $33.90 and a 200 day moving average of $30.73. The stock has a market cap of $478.12 million, a price-to-earnings ratio of 15.79 and a beta of 1.04. Financial Institutions has a one year low of $24.56 and a one year high of $35.40.
Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Tuesday, January 24th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. Financial Institutions had a return on equity of 10.52% and a net margin of 21.15%. On average, equities research analysts predict that Financial Institutions will post $2.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Tuesday, March 14th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.49%. Financial Institutions’s dividend payout ratio is presently 40.00%.
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In related news, Director John E. Benjamin sold 1,700 shares of the business’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $33.84, for a total transaction of $57,528.00. Following the completion of the transaction, the director now owns 21,555 shares of the company’s stock, valued at approximately $729,421.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.23% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. boosted its position 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 valued at $122,000 after buying an additional 4,100 shares in the last quarter. Wells Fargo & Company MN boosted its position in Financial Institutions by 28.1% in the third quarter. Wells Fargo & Company MN now owns 4,886 shares of the company’s stock valued at $132,000 after buying an additional 1,072 shares in the last quarter. Acrospire Investment Management LLC boosted its position in Financial Institutions by 227.4% in the third quarter. Acrospire Investment Management LLC now owns 5,213 shares of the company’s stock valued at $141,000 after buying an additional 3,621 shares in the last quarter. Ellington Management Group LLC acquired a new position in Financial Institutions during the fourth quarter valued at $202,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Financial Institutions during the fourth quarter valued at $218,000. 61.49% of the stock is owned by institutional investors and hedge funds.
Financial Institutions Company Profile
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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