Dynamic Technology Lab Private Ltd Has $817,000 Position in Financial Institutions, Inc. $FISI

Dynamic Technology Lab Private Ltd lifted its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 98.3% during the 2nd quarter, Holdings Channel reports. The firm owned 31,811 shares of the bank’s stock after purchasing an additional 15,768 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Financial Institutions were worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of FISI. Allworth Financial LP grew its holdings in Financial Institutions by 925.2% during the second quarter. Allworth Financial LP now owns 2,850 shares of the bank’s stock worth $73,000 after purchasing an additional 2,572 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Financial Institutions by 29.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,805 shares of the bank’s stock valued at $123,000 after buying an additional 1,103 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Financial Institutions in the first quarter valued at approximately $205,000. SG Americas Securities LLC boosted its stake in shares of Financial Institutions by 33.3% during the 2nd quarter. SG Americas Securities LLC now owns 8,262 shares of the bank’s stock worth $212,000 after acquiring an additional 2,063 shares during the period. Finally, CWM LLC increased its holdings in shares of Financial Institutions by 8.1% during the 1st quarter. CWM LLC now owns 9,222 shares of the bank’s stock worth $230,000 after acquiring an additional 688 shares during the last quarter. 60.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FISI. Keefe, Bruyette & Woods raised their price target on Financial Institutions from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Wall Street Zen raised shares of Financial Institutions from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Financial Institutions in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.33.

Financial Institutions Trading Up 3.4%

Shares of Financial Institutions stock opened at $29.47 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a 50-day moving average of $27.79 and a 200-day moving average of $26.82. Financial Institutions, Inc. has a 52-week low of $20.97 and a 52-week high of $30.07. The stock has a market cap of $593.26 million, a PE ratio of -21.51 and a beta of 0.76.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Thursday, October 23rd. The bank reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.11. The business had revenue of $64.87 million for the quarter, compared to analyst estimates of $60.46 million. Financial Institutions had a negative net margin of 2.93% and a positive return on equity of 11.27%. As a group, sell-side analysts forecast that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, December 15th. Financial Institutions’s payout ratio is presently -90.51%.

Financial Institutions announced that its Board of Directors has initiated a share buyback program on Monday, September 22nd that authorizes the company to buyback $1.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 0.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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 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.