Strs Ohio Lowers Stake in Financial Institutions, Inc. (NASDAQ:FISI)

Strs Ohio decreased its stake in Financial Institutions, Inc. (NASDAQ:FISI) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,400 shares of the bank’s stock after selling 3,900 shares during the period. Strs Ohio owned approximately 0.18% of Financial Institutions worth $583,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Courier Capital LLC lifted its holdings in Financial Institutions by 100.8% during the 4th quarter. Courier Capital LLC now owns 217,453 shares of the bank’s stock worth $4,632,000 after buying an additional 109,144 shares during the last quarter. River Oaks Capital LLC increased its position in Financial Institutions by 2.4% in the 3rd quarter. River Oaks Capital LLC now owns 139,000 shares of the bank’s stock valued at $2,339,000 after acquiring an additional 3,300 shares during the period. Bank of New York Mellon Corp increased its position in Financial Institutions by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 118,872 shares of the bank’s stock valued at $2,001,000 after acquiring an additional 931 shares during the period. GSA Capital Partners LLP increased its position in Financial Institutions by 128.2% in the 3rd quarter. GSA Capital Partners LLP now owns 51,877 shares of the bank’s stock valued at $873,000 after acquiring an additional 29,140 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Financial Institutions by 110.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,236 shares of the bank’s stock valued at $829,000 after purchasing an additional 25,889 shares during the period. Institutional investors and hedge funds own 60.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FISI. Piper Sandler reiterated a “neutral” rating and set a $19.00 price target (down from $23.00) on shares of Financial Institutions in a research report on Monday, March 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $23.00 target price on shares of Financial Institutions in a research report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Financial Institutions presently has a consensus rating of “Hold” and an average price target of $20.67.

Financial Institutions Trading Up 1.0 %

Financial Institutions stock opened at $17.60 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50-day simple moving average is $18.11 and its 200-day simple moving average is $18.73. The firm has a market capitalization of $271.92 million, a PE ratio of 5.57 and a beta of 0.87. Financial Institutions, Inc. has a 52 week low of $13.84 and a 52 week high of $23.11.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.12). The firm had revenue of $55.25 million for the quarter, compared to the consensus estimate of $50.29 million. Financial Institutions had a net margin of 15.03% and a return on equity of 12.24%. Equities research analysts forecast that Financial Institutions, Inc. will post 2.71 earnings per share for the current year.

Financial Institutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date of this dividend was Thursday, March 14th. Financial Institutions’s payout ratio is 37.97%.

Financial Institutions 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.