Courier Capital LLC Increases Stock Holdings in Financial Institutions, Inc. (NASDAQ:FISI)

Courier Capital LLC raised its stake in Financial Institutions, Inc. (NASDAQ:FISI) by 100.8% during the 4th quarter, HoldingsChannel reports. The firm owned 217,453 shares of the bank’s stock after acquiring an additional 109,144 shares during the period. Courier Capital LLC’s holdings in Financial Institutions were worth $4,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of FISI. MetLife Investment Management LLC grew its stake in shares of Financial Institutions by 43.3% in the 1st quarter. MetLife Investment Management LLC now owns 9,259 shares of the bank’s stock valued at $279,000 after purchasing an additional 2,798 shares during the last quarter. BlackRock Inc. grew its stake in shares of Financial Institutions by 2.6% in the 1st quarter. BlackRock Inc. now owns 1,199,589 shares of the bank’s stock valued at $36,145,000 after purchasing an additional 30,179 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Financial Institutions by 177.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 857 shares of the bank’s stock valued at $26,000 after purchasing an additional 548 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Financial Institutions by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,258,738 shares of the bank’s stock valued at $37,926,000 after purchasing an additional 9,639 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Financial Institutions by 171.1% in the 1st quarter. Sei Investments Co. now owns 19,847 shares of the bank’s stock valued at $598,000 after purchasing an additional 12,527 shares during the last quarter. 60.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FISI has been the topic of several analyst reports. TheStreet upgraded Financial Institutions from a “c+” rating to a “b-” rating in a research note on Thursday, December 28th. Piper Sandler restated a “neutral” rating and issued a $19.00 price target (down from $23.00) on shares of Financial Institutions in a research note on Monday.

Financial Institutions Stock Performance

NASDAQ FISI opened at $18.64 on Thursday. Financial Institutions, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $23.11. The stock has a market cap of $287.24 million, a price-to-earnings ratio of 5.90 and a beta of 0.86. The business has a fifty day moving average of $19.42 and a 200-day moving average of $18.66. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.28.

Financial Institutions (NASDAQ:FISI) last released its earnings results on Thursday, January 25th. The bank reported $0.61 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.12). The business had revenue of $55.25 million during the quarter, compared to analyst estimates of $50.29 million. Financial Institutions had a net margin of 15.03% and a return on equity of 12.24%. As a group, analysts predict that Financial Institutions, Inc. will post 2.71 earnings per share for the current fiscal year.

Financial Institutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Friday, March 15th will be paid a $0.30 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 6.44%. Financial Institutions’s payout ratio is currently 37.97%.

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 offers 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.