Los Angeles Capital Management LLC Sells 3,600 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

Los Angeles Capital Management LLC lessened its holdings in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,560 shares of the bank’s stock after selling 3,600 shares during the period. Los Angeles Capital Management LLC owned 0.11% of Financial Institutions worth $452,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. R Squared Ltd acquired a new position in Financial Institutions during the 4th quarter worth about $30,000. US Bancorp DE raised its position 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 worth $66,000 after acquiring an additional 1,399 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Financial Institutions by 14.9% during the fourth quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock worth $202,000 after acquiring an additional 964 shares during the last quarter. Stonebrook Private Inc. acquired a new position in shares of Financial Institutions in the third quarter worth approximately $218,000. Finally, XTX Topco Ltd bought a new stake in Financial Institutions in the third quarter valued at approximately $224,000. Institutional investors own 60.45% of the company’s stock.

Insider Activity at Financial Institutions

In other news, Director Robert N. Latella acquired 4,000 shares of Financial Institutions stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $25.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the director now owns 16,000 shares of the company’s stock, valued at approximately $400,000. The trade was a 33.33 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.68% of the stock is currently owned by corporate insiders.

Financial Institutions Stock Performance

Shares of FISI stock opened at $27.76 on Tuesday. The firm has a 50 day moving average of $27.46 and a 200-day moving average of $26.47. The company has a market cap of $429.56 million, a price-to-earnings ratio of -19.14 and a beta of 0.90. 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 $29.79.

Financial Institutions (NASDAQ:FISI) last issued its earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.20). Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. On average, equities analysts forecast that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 14th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Financial Institutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.47%. Financial Institutions’s dividend payout ratio (DPR) is currently -85.52%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Stephens restated an “equal weight” rating and set a $33.00 price target on shares of Financial Institutions in a report on Friday, January 31st. StockNews.com raised shares of Financial Institutions from a “sell” rating to a “hold” rating in a research note on Tuesday, February 11th. Piper Sandler started coverage on shares of Financial Institutions in a research report on Friday, December 20th. They set an “overweight” rating and a $33.00 price target on the stock. Finally, Keefe, Bruyette & Woods upgraded Financial Institutions from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $29.00 to $34.00 in a report on Monday, February 3rd.

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.