Financial Institutions, Inc. (NASDAQ:FISI) Stock Position Raised by Martingale Asset Management L P

Martingale Asset Management L P increased its holdings in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 6.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 57,035 shares of the bank’s stock after buying an additional 3,603 shares during the period. Martingale Asset Management L P’s holdings in Financial Institutions were worth $1,453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of FISI. Fourthstone LLC acquired a new stake in shares of Financial Institutions during the 3rd quarter worth approximately $518,000. BNP Paribas Financial Markets lifted its stake in Financial Institutions by 421.4% in the third quarter. BNP Paribas Financial Markets now owns 19,793 shares of the bank’s stock valued at $504,000 after buying an additional 15,997 shares during the last quarter. FMR LLC boosted its holdings in shares of Financial Institutions by 18.6% during the third quarter. FMR LLC now owns 38,368 shares of the bank’s stock valued at $977,000 after acquiring an additional 6,025 shares during the period. Stonebrook Private Inc. bought a new position in shares of Financial Institutions during the third quarter worth about $218,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Financial Institutions by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 124,428 shares of the bank’s stock worth $3,169,000 after acquiring an additional 417 shares during the period. Institutional investors own 60.45% of the company’s stock.

Analyst Upgrades and Downgrades

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

Financial Institutions Trading Up 0.9 %

NASDAQ:FISI opened at $27.16 on Monday. The stock has a market cap of $420.17 million, a price-to-earnings ratio of 8.54 and a beta of 0.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. Financial Institutions, Inc. has a 1 year low of $16.29 and a 1 year high of $29.14. The business has a fifty day moving average of $25.78 and a 200-day moving average of $23.11.

Financial Institutions (NASDAQ:FISI) last announced 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. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. The firm had revenue of $50.12 million during the quarter. During the same quarter in the prior year, the company earned $0.88 EPS. Equities analysts predict that Financial Institutions, Inc. will post 3.6 earnings per share for the current year.

Financial Institutions Announces Dividend

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

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.