Courier Capital LLC Has $9.61 Million Stock Position in Financial Institutions, Inc. (NASDAQ:FISI)

Courier Capital LLC increased its position in Financial Institutions, Inc. (NASDAQ:FISI) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 352,126 shares of the bank’s stock after buying an additional 1,887 shares during the period. Courier Capital LLC owned 2.28% of Financial Institutions worth $9,610,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. PL Capital Advisors LLC grew its position in Financial Institutions by 408.0% in the 3rd quarter. PL Capital Advisors LLC now owns 1,771,516 shares of the bank’s stock valued at $45,121,000 after purchasing an additional 1,422,765 shares during the period. Zacks Investment Management acquired a new stake in shares of Financial Institutions in the 3rd quarter worth about $4,706,000. Segall Bryant & Hamill LLC bought a new position in Financial Institutions in the 3rd quarter valued at about $1,364,000. AQR Capital Management LLC boosted 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 valued at $1,221,000 after purchasing an additional 37,653 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Financial Institutions by 9.0% during the 2nd quarter. Renaissance Technologies LLC now owns 332,500 shares of the bank’s stock valued at $6,424,000 after purchasing an additional 27,400 shares during the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on Financial Institutions from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler initiated 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. Finally, StockNews.com downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Financial Institutions Stock Performance

Financial Institutions stock traded up $0.14 during mid-day trading on Monday, reaching $25.80. 78,789 shares of the company’s stock were exchanged, compared to its average volume of 103,284. The firm has a market capitalization of $399.23 million, a PE ratio of 8.11 and a beta of 0.91. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The business’s fifty day simple moving average is $27.03 and its 200 day simple moving average is $25.08. Financial Institutions, Inc. has a one year low of $16.29 and a one year high of $29.34.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $50.12 million for the quarter. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. During the same period last year, the firm posted $0.88 earnings per share. On average, sell-side analysts expect that Financial Institutions, Inc. will post 3.66 earnings per share for the current year.

Financial Institutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.65%. Financial Institutions’s dividend payout ratio is presently 37.74%.

Insiders Place Their Bets

In other Financial Institutions news, Director Robert N. Latella purchased 4,000 shares of Financial Institutions stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $400,000. The trade was a 33.33 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.68% of the company’s stock.

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.