Financial Institutions, Inc. (NASDAQ:FISI) Sees Significant Decline in Short Interest

Financial Institutions, Inc. (NASDAQ:FISI) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 69,100 shares, a decrease of 9.1% from the September 30th total of 76,000 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily volume of 46,600 shares, the days-to-cover ratio is presently 1.5 days.

Financial Institutions Price Performance

Financial Institutions stock traded down $0.01 during midday trading on Wednesday, hitting $24.47. The company’s stock had a trading volume of 23,827 shares, compared to its average volume of 50,183. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $25.30 and its 200-day moving average price is $21.67. Financial Institutions has a 12 month low of $15.56 and a 12 month high of $27.75. The company has a market capitalization of $377.99 million, a PE ratio of 9.75 and a beta of 0.89.

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 13.95% and a return on equity of 12.06%. 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. Analysts anticipate that Financial Institutions will post 3.64 earnings per share for the current fiscal year.

Financial Institutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Friday, September 13th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 4.90%. Financial Institutions’s payout ratio is presently 47.81%.

Analyst Upgrades and Downgrades

FISI has been the subject of several research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $25.00 price objective (up previously from $20.00) on shares of Financial Institutions in a report on Monday, July 29th. StockNews.com downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.

Institutional Trading of Financial Institutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC purchased a new position in Financial Institutions during the 2nd quarter valued at about $25,000. US Bancorp DE grew its stake in Financial Institutions by 119.3% during the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock valued at $66,000 after acquiring an additional 1,399 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Financial Institutions during the 1st quarter valued at about $98,000. CWM LLC grew 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 valued at about $164,000. Institutional investors and hedge funds own 60.45% of the company’s stock.

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.