Bessemer Group Inc. lessened its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 74.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,400 shares of the bank’s stock after selling 21,100 shares during the period. Bessemer Group Inc.’s holdings in Financial Institutions were worth $230,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Financial Institutions during the 3rd quarter worth approximately $139,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Financial Institutions during the 2nd quarter worth approximately $216,000. Virtu KCG Holdings LLC acquired a new stake in shares of Financial Institutions during the 2nd quarter worth approximately $219,000. Wells Fargo & Company MN raised its position in shares of Financial Institutions by 1.7% during the 2nd quarter. Wells Fargo & Company MN now owns 9,351 shares of the bank’s stock worth $279,000 after purchasing an additional 159 shares during the period. Finally, OxFORD Asset Management LLP acquired a new stake in shares of Financial Institutions during the 2nd quarter worth approximately $304,000. 69.20% of the stock is currently owned by institutional investors.
In other Financial Institutions news, CEO Martin Kearney Birmingham bought 1,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $31.65 per share, for a total transaction of $31,650.00. Following the transaction, the chief executive officer now directly owns 82,916 shares in the company, valued at $2,624,291.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew W. Dorn, Jr. bought 1,557 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average price of $30.95 per share, for a total transaction of $48,189.15. Following the completion of the transaction, the director now owns 16,999 shares in the company, valued at $526,119.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 6,496 shares of company stock worth $207,123. 5.49% of the stock is owned by insiders.
Financial Institutions (NASDAQ:FISI) last posted its earnings results on Monday, January 29th. The bank reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Financial Institutions had a return on equity of 9.31% and a net margin of 20.34%. The firm had revenue of $38.75 million for the quarter. research analysts predict that Financial Institutions, Inc. will post 2.12 earnings per share for the current fiscal year.
FISI has been the topic of a number of research reports. Hovde Group reiterated a “buy” rating and set a $36.00 price target on shares of Financial Institutions in a research report on Friday, February 2nd. BidaskClub cut Financial Institutions from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 price target on shares of Financial Institutions in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $33.50.
Financial Institutions Company Profile
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.
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