Financial Institutions, Inc. (NASDAQ:FISI) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P grew its position in Financial Institutions, Inc. (NASDAQ:FISI) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,035 shares of the bank’s stock after purchasing an additional 3,603 shares during the period. Martingale Asset Management L P owned approximately 0.37% of Financial Institutions worth $1,453,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Financial Institutions during the third quarter valued at approximately $513,000. Segall Bryant & Hamill LLC acquired a new stake in Financial Institutions during the 3rd quarter valued at $1,364,000. AQR Capital Management LLC increased its stake in Financial Institutions by 147.3% during the 2nd quarter. AQR Capital Management LLC now owns 63,213 shares of the bank’s stock worth $1,221,000 after buying an additional 37,653 shares during the period. Acadian Asset Management LLC lifted its holdings in Financial Institutions by 8.7% in the 2nd quarter. Acadian Asset Management LLC now owns 324,263 shares of the bank’s stock worth $6,263,000 after buying an additional 25,865 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Financial Institutions by 32.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,559 shares of the bank’s stock valued at $2,485,000 after buying an additional 23,885 shares during the last quarter. Hedge funds and other institutional investors own 60.45% of the company’s stock.

Financial Institutions Stock Up 0.9 %

Shares of NASDAQ:FISI opened at $27.16 on Monday. The firm has a market cap of $420.17 million, a PE ratio of 8.54 and a beta of 0.90. The company has a fifty day simple moving average of $25.78 and a 200 day simple moving average of $23.11. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. Financial Institutions, Inc. has a 12-month low of $16.29 and a 12-month high of $29.14.

Financial Institutions (NASDAQ:FISI) last released its earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. The company had revenue of $50.12 million during the quarter. During the same period in the previous year, the firm posted $0.88 EPS. On average, equities research analysts anticipate that Financial Institutions, Inc. will post 3.6 EPS for the current fiscal year.

Financial Institutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Friday, December 13th. Financial Institutions’s payout ratio is currently 37.74%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

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.