PL Capital Advisors LLC Has $4.02 Million Stock Holdings in Financial Institutions, Inc. (NASDAQ:FISI)

PL Capital Advisors LLC decreased its stake in Financial Institutions, Inc. (NASDAQ:FISI) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,800 shares of the bank’s stock after selling 15,000 shares during the period. Financial Institutions accounts for about 1.4% of PL Capital Advisors LLC’s holdings, making the stock its 22nd biggest holding. PL Capital Advisors LLC’s holdings in Financial Institutions were worth $4,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FISI. Courier Capital LLC increased its stake in shares of Financial Institutions by 100.8% in the fourth quarter. Courier Capital LLC now owns 217,453 shares of the bank’s stock valued at $4,632,000 after buying an additional 109,144 shares during the period. GSA Capital Partners LLP grew its stake in Financial Institutions by 128.2% during the third quarter. GSA Capital Partners LLP now owns 51,877 shares of the bank’s stock worth $873,000 after purchasing an additional 29,140 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Financial Institutions by 110.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,236 shares of the bank’s stock worth $829,000 after purchasing an additional 25,889 shares during the period. Community Capital Management LLC acquired a new stake in Financial Institutions during the third quarter worth approximately $269,000. Finally, Great Lakes Advisors LLC acquired a new stake in Financial Institutions during the third quarter worth approximately $235,000. Institutional investors and hedge funds own 60.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on FISI. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $23.00 target price on shares of Financial Institutions in a research note on Tuesday, April 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $19.00 target price (down previously from $23.00) on shares of Financial Institutions in a research note on Monday, March 25th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.67.

Financial Institutions Stock Up 1.0 %

Shares of NASDAQ:FISI opened at $17.60 on Friday. The business’s 50 day simple moving average is $18.11 and its two-hundred day simple moving average is $18.75. The firm has a market cap of $271.92 million, a P/E ratio of 7.01 and a beta of 0.87. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.84. Financial Institutions, Inc. has a 52-week low of $13.84 and a 52-week high of $23.11.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.12). The firm had revenue of $55.25 million during the quarter, compared to the consensus estimate of $50.29 million. Financial Institutions had a return on equity of 9.76% and a net margin of 11.53%. As a group, research analysts forecast that Financial Institutions, Inc. will post 2.71 EPS for the current fiscal year.

Financial Institutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were issued a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 6.82%. Financial Institutions’s payout ratio is currently 47.81%.

About Financial Institutions

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 provides 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.