Financial Institutions, Inc. (NASDAQ:FISI) Short Interest Update

Financial Institutions, Inc. (NASDAQ:FISI) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 49,200 shares, a drop of 22.0% from the October 31st total of 63,100 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 39,400 shares, the short-interest ratio is currently 1.2 days.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in Financial Institutions in the 3rd quarter valued at about $513,000. Segall Bryant & Hamill LLC purchased a new position in Financial Institutions in the third quarter worth approximately $1,364,000. AQR Capital Management LLC lifted its stake in Financial Institutions by 147.3% in the second quarter. AQR Capital Management LLC now owns 63,213 shares of the bank’s stock worth $1,221,000 after acquiring an additional 37,653 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Financial Institutions by 8.7% during the 2nd quarter. Acadian Asset Management LLC now owns 324,263 shares of the bank’s stock worth $6,263,000 after acquiring an additional 25,865 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Financial Institutions by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 784,928 shares of the bank’s stock valued at $14,772,000 after purchasing an additional 16,462 shares during the last quarter. 60.45% of the stock is currently owned by hedge funds and other institutional investors.

Financial Institutions Stock Up 0.9 %

Shares of NASDAQ:FISI opened at $27.16 on Friday. The firm has a market capitalization of $420.27 million, a PE ratio of 8.54 and a beta of 0.90. Financial Institutions has a 1 year low of $16.29 and a 1 year high of $29.14. 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 firm’s 50-day moving average is $25.78 and its two-hundred day moving average is $23.05.

Financial Institutions (NASDAQ:FISI) last announced its earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm 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 in the previous year, the company earned $0.88 earnings per share. Analysts predict that Financial Institutions will post 3.6 EPS for the current year.

Financial Institutions Announces Dividend

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