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

Financial Institutions, Inc. (NASDAQ:FISI) Director Robert N. Latella purchased 4,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost 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 in the company, valued at approximately $400,000. This represents a 33.33 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Financial Institutions Stock Up 0.3 %

Financial Institutions stock traded up $0.08 during midday trading on Monday, hitting $28.94. The stock had a trading volume of 78,160 shares, compared to its average volume of 55,888. The business has a fifty day moving average price of $26.23 and a 200 day moving average price of $23.74. Financial Institutions, Inc. has a 12 month low of $16.29 and a 12 month high of $29.14. The stock has a market cap of $447.82 million, a P/E ratio of 9.08 and a beta of 0.92. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26.

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, topping analysts’ consensus estimates 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 prior year, the business earned $0.88 EPS. Research analysts predict that Financial Institutions, Inc. will post 3.66 EPS for the current year.

Financial Institutions Announces Dividend

The business 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. This represents a $1.20 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Friday, December 13th. Financial Institutions’s payout ratio is 37.74%.

Analyst Upgrades and Downgrades

Several research firms recently commented on FISI. StockNews.com upgraded Financial Institutions from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods increased their price target on Financial Institutions from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Hedge Funds Weigh In On Financial Institutions

Several institutional investors have recently modified their holdings of FISI. Innealta Capital LLC acquired a new position in Financial Institutions during the 2nd quarter valued at about $25,000. US Bancorp DE boosted its position in shares of Financial Institutions by 119.3% during the third quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock worth $66,000 after buying an additional 1,399 shares during the period. CWM LLC grew its holdings in Financial Institutions by 150.4% in the 2nd quarter. CWM LLC now owns 5,438 shares of the bank’s stock worth $105,000 after buying an additional 3,266 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Financial Institutions in the 3rd quarter valued at approximately $164,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Financial Institutions by 23.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,837 shares of the bank’s stock valued at $209,000 after acquiring an additional 2,026 shares in the last quarter. Institutional investors own 60.45% of the company’s stock.

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.