Financial Institutions, Inc. (NASDAQ:FISI - Get Free Report) Director Robert N. Latella bought 4,000 shares of the company's stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $25.00 per share, with a total value of $100,000.00. Following the acquisition, the director now owns 16,000 shares in the company, valued at approximately $400,000. This trade represents a 33.33 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Financial Institutions Price Performance
FISI opened at $28.92 on Tuesday. The business has a fifty day moving average of $26.23 and a 200 day moving average of $23.74. The stock has a market cap of $447.51 million, a P/E ratio of 9.09 and a beta of 0.92. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. Financial Institutions, Inc. has a 52-week low of $16.29 and a 52-week high of $29.14.
Financial Institutions (NASDAQ:FISI - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. The firm had revenue of $50.12 million during the quarter. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, sell-side analysts anticipate that Financial Institutions, Inc. will post 3.66 EPS for the current year.
Financial Institutions Dividend Announcement
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The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Friday, December 13th. Financial Institutions's dividend payout ratio (DPR) is presently 37.74%.
Institutional Trading of Financial Institutions
Large investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Financial Institutions during the 2nd quarter worth $25,000. US Bancorp DE increased its stake in shares of Financial Institutions by 119.3% during the third quarter. US Bancorp DE now owns 2,572 shares of the bank's stock valued at $66,000 after buying an additional 1,399 shares during the period. CWM LLC raised its holdings in shares of Financial Institutions by 150.4% in the second quarter. CWM LLC now owns 5,438 shares of the bank's stock valued at $105,000 after acquiring an additional 3,266 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Financial Institutions in the third quarter worth about $164,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Financial Institutions by 23.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,837 shares of the bank's stock worth $209,000 after acquiring an additional 2,026 shares in the last quarter. Hedge funds and other institutional investors own 60.45% of the company's stock.
Analysts Set New Price Targets
Several research analysts have commented on the stock. StockNews.com raised shares of Financial Institutions from a "hold" rating to a "buy" rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their price target on shares of Financial Institutions from $27.00 to $28.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.
Check Out Our Latest Analysis on Financial Institutions
Financial Institutions Company Profile
(
Get Free Report)
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.
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