Los Angeles Capital Management LLC Has $452,000 Stock Position in Financial Institutions, Inc. (NASDAQ:FISI)

Los Angeles Capital Management LLC lessened its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 17.9% during the fourth quarter, HoldingsChannel reports. The fund owned 16,560 shares of the bank’s stock after selling 3,600 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Financial Institutions were worth $452,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Financial Institutions by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 124,428 shares of the bank’s stock worth $3,169,000 after purchasing an additional 417 shares in the last quarter. SG Americas Securities LLC boosted 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 valued at $202,000 after buying an additional 964 shares during the last quarter. R Squared Ltd purchased a new position in shares of Financial Institutions during the fourth quarter valued at approximately $30,000. Jacobs Levy Equity Management Inc. grew its holdings in Financial Institutions by 1.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 59,725 shares of the bank’s stock worth $1,521,000 after buying an additional 1,137 shares in the last quarter. Finally, US Bancorp DE raised its position in Financial Institutions by 119.3% in the 3rd 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 last quarter. Institutional investors own 60.45% of the company’s stock.

Insider Buying and Selling at Financial Institutions

In other news, Director Robert N. Latella purchased 4,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $25.00 per share, with a total value of $100,000.00. Following the transaction, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $400,000. This represents a 33.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Financial Institutions Trading Down 0.9 %

NASDAQ FISI opened at $27.76 on Tuesday. The business’s fifty day moving average is $27.46 and its 200-day moving average is $26.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $429.56 million, a price-to-earnings ratio of -19.14 and a beta of 0.90. Financial Institutions, Inc. has a one year low of $16.29 and a one year high of $29.79.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $0.54 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%. Equities research analysts predict that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions Increases Dividend

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

Financial Institutions 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.