SG Americas Securities LLC Invests $164,000 in Financial Institutions, Inc. (NASDAQ:FISI)

SG Americas Securities LLC bought a new stake in Financial Institutions, Inc. (NASDAQ:FISI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,454 shares of the bank’s stock, valued at approximately $164,000.

A number of other large investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Financial Institutions by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock valued at $166,000 after acquiring an additional 742 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Financial Institutions by 31.4% in the 1st quarter. BNP Paribas Financial Markets now owns 24,797 shares of the bank’s stock valued at $467,000 after purchasing an additional 5,922 shares in the last quarter. PL Capital Advisors LLC lifted its holdings in Financial Institutions by 59.6% in the 1st quarter. PL Capital Advisors LLC now owns 301,281 shares of the bank’s stock valued at $5,670,000 after purchasing an additional 112,481 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Financial Institutions during the 1st quarter worth about $433,000. Finally, Empowered Funds LLC grew its holdings in shares of Financial Institutions by 8.1% during the first quarter. Empowered Funds LLC now owns 58,600 shares of the bank’s stock worth $1,103,000 after buying an additional 4,375 shares in the last quarter. Institutional investors and hedge funds own 60.45% of the company’s stock.

Financial Institutions Stock Performance

Shares of FISI stock opened at $24.98 on Friday. The firm has a market capitalization of $385.87 million, a price-to-earnings ratio of 9.95 and a beta of 0.89. The company has a 50 day moving average price of $25.31 and a 200 day moving average price of $21.46. Financial Institutions, Inc. has a one year low of $15.22 and a one year high of $27.75. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.86.

Financial Institutions (NASDAQ:FISI) last issued its earnings results on Thursday, July 25th. The bank reported $1.62 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.92. Financial Institutions had a return on equity of 12.06% and a net margin of 13.95%. The business had revenue of $102.80 million for the quarter. During the same period last year, the business posted $0.91 earnings per share. Sell-side analysts anticipate that Financial Institutions, Inc. will post 3.64 EPS for the current year.

Financial Institutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Friday, September 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.80%. Financial Institutions’s dividend payout ratio (DPR) is 47.81%.

Analyst Upgrades and Downgrades

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

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.