Hotchkis & Wiley Capital Management LLC Decreases Stake in Financial Institutions, Inc. (NASDAQ:FISI)

Hotchkis & Wiley Capital Management LLC reduced its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 11.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 145,058 shares of the bank’s stock after selling 19,550 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.94% of Financial Institutions worth $3,695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FISI. Innealta Capital LLC acquired a new position in Financial Institutions in the 2nd quarter valued at about $25,000. US Bancorp DE boosted its holdings in Financial Institutions by 119.3% in the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock worth $66,000 after acquiring an additional 1,399 shares during the period. CWM LLC boosted 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 acquiring an additional 3,266 shares during the period. SG Americas Securities LLC purchased a new position in shares of Financial Institutions during the 3rd quarter valued at approximately $164,000. Finally, Stonebrook Private Inc. purchased a new position in shares of Financial Institutions during the 3rd quarter valued at approximately $218,000. 60.45% of the stock is currently owned by hedge funds and other institutional investors.

Financial Institutions Price Performance

Shares of FISI opened at $26.71 on Friday. The stock’s fifty day moving average is $25.91 and its 200-day moving average is $23.27. Financial Institutions, Inc. has a one year low of $16.29 and a one year high of $29.14. The firm has a market capitalization of $413.20 million, a price-to-earnings ratio of 8.40 and a beta of 0.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. The firm had revenue of $50.12 million for the quarter. During the same quarter last year, the firm posted $0.88 earnings per share. Equities analysts anticipate that Financial Institutions, Inc. will post 3.6 EPS for the current year.

Financial Institutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 4.49%. Financial Institutions’s dividend payout ratio is currently 37.74%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FISI. StockNews.com lowered Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods increased their target price on Financial Institutions from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday.

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.