Financial Institutions, Inc. (NASDAQ:FISI) Director Robert N. Latella Buys 4,000 Shares

Financial Institutions, Inc. (NASDAQ:FISI) Director Robert N. Latella bought 4,000 shares of the firm’s 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 acquisition, the director now owns 16,000 shares of the company’s stock, valued at approximately $400,000. This trade represents a 33.33 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Financial Institutions Stock Performance

FISI stock opened at $27.06 on Thursday. The firm has a 50 day simple moving average of $26.44 and a 200 day simple moving average of $23.92. Financial Institutions, Inc. has a 52 week low of $16.29 and a 52 week high of $29.34. The stock has a market cap of $418.73 million, a P/E ratio of 8.51 and a beta of 0.92. 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 (NASDAQ:FISI) 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. 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 last year, the business earned $0.88 EPS. Research analysts anticipate that Financial Institutions, Inc. will post 3.66 earnings per share for the current fiscal year.

Financial Institutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 4.43%. Financial Institutions’s dividend payout ratio (DPR) is currently 37.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FISI shares. StockNews.com lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their target price on Financial Institutions from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Financial Institutions by 48.4% in the 3rd quarter. Barclays PLC now owns 44,798 shares of the bank’s stock valued at $1,141,000 after buying an additional 14,606 shares in the last quarter. Geode Capital Management LLC raised its position in Financial Institutions by 2.0% during the third quarter. Geode Capital Management LLC now owns 354,685 shares of the bank’s stock valued at $9,036,000 after acquiring an additional 7,045 shares in the last quarter. XTX Topco Ltd acquired a new stake in Financial Institutions in the third quarter valued at approximately $224,000. Zacks Investment Management bought a new stake in Financial Institutions in the third quarter worth approximately $4,706,000. Finally, State Street Corp increased its stake in shares of Financial Institutions by 6.5% during the 3rd quarter. State Street Corp now owns 283,707 shares of the bank’s stock worth $7,309,000 after purchasing an additional 17,395 shares during the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.

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.