Spark Investment Management LLC Buys 5,900 Shares of Financial Institutions, Inc. (FISI)

Spark Investment Management LLC increased its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 64.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the bank’s stock after buying an additional 5,900 shares during the period. Spark Investment Management LLC’s holdings in Financial Institutions were worth $494,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FISI. JPMorgan Chase & Co. increased its position in Financial Institutions by 72.6% in the first quarter. JPMorgan Chase & Co. now owns 504,240 shares of the bank’s stock worth $16,615,000 after buying an additional 212,141 shares in the last quarter. Renaissance Technologies LLC increased its position in Financial Institutions by 105.4% in the fourth quarter. Renaissance Technologies LLC now owns 251,800 shares of the bank’s stock valued at $8,612,000 after buying an additional 129,200 shares during the period. Martingale Asset Management L P increased its position in Financial Institutions by 282.4% in the fourth quarter. Martingale Asset Management L P now owns 96,036 shares of the bank’s stock valued at $3,285,000 after buying an additional 70,922 shares during the period. Prudential Financial Inc. increased its position in Financial Institutions by 29.6% in the first quarter. Prudential Financial Inc. now owns 237,122 shares of the bank’s stock valued at $7,813,000 after buying an additional 54,180 shares during the period. Finally, Two Sigma Investments LP increased its position in Financial Institutions by 254.5% in the fourth quarter. Two Sigma Investments LP now owns 65,274 shares of the bank’s stock valued at $2,232,000 after buying an additional 46,859 shares during the period. 63.81% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Financial Institutions (NASDAQ:FISI)

Shares of Financial Institutions, Inc. (FISI) traded up 0.16% on Tuesday, reaching $30.55. 14,181 shares of the company’s stock traded hands. Financial Institutions, Inc. has a 52-week low of $24.56 and a 52-week high of $35.40. The firm’s 50-day moving average is $32.15 and its 200-day moving average is $32.83. The stock has a market cap of $440.10 million, a price-to-earnings ratio of 14.41 and a beta of 1.19.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Tuesday, April 25th. The bank reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. The business had revenue of $34.83 million during the quarter. Financial Institutions had a net margin of 21.15% and a return on equity of 10.53%. Analysts anticipate that Financial Institutions, Inc. will post $2.12 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Wednesday, June 14th will be given a $0.21 dividend. The ex-dividend date is Monday, June 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.75%. Financial Institutions’s payout ratio is currently 39.62%.

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Several research analysts recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Financial Institutions in a report on Wednesday, April 26th. Hovde Group assumed coverage on shares of Financial Institutions in a report on Monday, March 20th. They issued an “outperform” rating for the company.

About Financial Institutions

Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:FISI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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