Los Angeles Capital Management LLC Invests $513,000 in Financial Institutions, Inc. (NASDAQ:FISI)

Los Angeles Capital Management LLC bought a new position in Financial Institutions, Inc. (NASDAQ:FISI) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 20,160 shares of the bank’s stock, valued at approximately $513,000.

Several other large investors have also added to or reduced their stakes in FISI. Innealta Capital LLC purchased a new stake in shares of Financial Institutions in the second quarter worth approximately $25,000. US Bancorp DE grew its holdings in 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 in the last quarter. Lazard Asset Management LLC purchased a new stake in Financial Institutions in the 1st quarter valued at $98,000. CWM LLC lifted its stake in Financial Institutions by 150.4% during the 2nd quarter. CWM LLC now owns 5,438 shares of the bank’s stock valued at $105,000 after acquiring an additional 3,266 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Financial Institutions during the 3rd quarter worth $164,000. Institutional investors own 60.45% of the company’s stock.

Financial Institutions Stock Down 0.8 %

Shares of NASDAQ:FISI opened at $26.83 on Friday. Financial Institutions, Inc. has a 1 year low of $16.29 and a 1 year high of $28.12. The company has a market capitalization of $415.17 million, a PE ratio of 8.44 and a beta of 0.90. The business has a fifty day moving average price of $25.49 and a two-hundred day moving average price of $22.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86.

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. 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 for the quarter. During the same period last year, the firm posted $0.88 earnings per share. Analysts forecast that Financial Institutions, Inc. will post 3.6 earnings per share for the current year.

Financial Institutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Friday, September 13th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.20 annualized dividend and a dividend yield of 4.47%. Financial Institutions’s payout ratio is currently 37.74%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FISI shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $25.00 target price (up previously from $20.00) on shares of Financial Institutions in a report on Monday, July 29th. StockNews.com lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

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.