Financial Institutions, Inc. (NASDAQ:FISI) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lowered its position in Financial Institutions, Inc. (NASDAQ:FISI) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 300,672 shares of the bank’s stock after selling 6,905 shares during the period. Financial Institutions comprises approximately 0.8% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 25th largest position. Canandaigua National Bank & Trust Co. owned about 1.95% of Financial Institutions worth $5,659,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in FISI. CWM LLC grew its stake in shares of Financial Institutions by 193.3% during the 4th quarter. CWM LLC now owns 1,566 shares of the bank’s stock worth $33,000 after purchasing an additional 1,032 shares during the period. AJOVista LLC purchased a new stake in Financial Institutions during the 4th quarter worth about $66,000. Allspring Global Investments Holdings LLC lifted its holdings in Financial Institutions by 181.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,069 shares of the bank’s stock valued at $172,000 after purchasing an additional 5,198 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Financial Institutions by 28.0% during the fourth quarter. SG Americas Securities LLC now owns 8,299 shares of the bank’s stock worth $177,000 after buying an additional 1,817 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Financial Institutions by 23.7% during the fourth quarter. BNP Paribas Financial Markets now owns 18,875 shares of the bank’s stock worth $402,000 after buying an additional 3,612 shares in the last quarter. Hedge funds and other institutional investors own 60.45% of the company’s stock.

Financial Institutions Stock Down 0.3 %

Shares of FISI traded down $0.05 during mid-day trading on Tuesday, reaching $17.43. 6,225 shares of the stock traded hands, compared to its average volume of 50,616. The stock has a fifty day simple moving average of $17.68 and a 200 day simple moving average of $19.04. Financial Institutions, Inc. has a 12-month low of $15.22 and a 12-month high of $23.11. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.29. The firm has a market cap of $269.29 million, a price-to-earnings ratio of 6.96 and a beta of 0.91.

Financial Institutions (NASDAQ:FISI) last announced its earnings results on Thursday, April 25th. The bank reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.55). Financial Institutions had a net margin of 11.53% and a return on equity of 9.66%. The business had revenue of $50.98 million for the quarter, compared to analyst estimates of $50.48 million. Sell-side analysts expect that Financial Institutions, Inc. will post 3.18 EPS for the current fiscal year.

Financial Institutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Friday, June 14th will be paid a $0.30 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a yield of 6.88%. Financial Institutions’s dividend payout ratio (DPR) is 47.81%.

Analyst Upgrades and Downgrades

FISI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $23.00 price target on shares of Financial Institutions in a report on Tuesday, April 2nd. Piper Sandler restated a “neutral” rating and issued a $19.00 target price (down from $23.00) on shares of Financial Institutions in a report on Monday, March 25th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.67.

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.