Azora Capital LP Makes New $6.21 Million Investment in Financial Institutions, Inc. (NASDAQ:FISI)

Azora Capital LP bought a new position in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 227,658 shares of the bank's stock, valued at approximately $6,213,000. Azora Capital LP owned approximately 1.47% of Financial Institutions as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Picton Mahoney Asset Management raised its holdings in shares of Financial Institutions by 45.5% during the fourth quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock valued at $32,000 after purchasing an additional 374 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Financial Institutions by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 125,323 shares of the bank's stock worth $3,420,000 after buying an additional 895 shares during the period. SG Americas Securities LLC boosted its holdings in Financial Institutions by 14.9% in the fourth quarter. SG Americas Securities LLC now owns 7,418 shares of the bank's stock worth $202,000 after acquiring an additional 964 shares in the last quarter. R Squared Ltd acquired a new stake in Financial Institutions in the fourth quarter valued at approximately $30,000. Finally, Wells Fargo & Company MN grew its stake in Financial Institutions by 14.3% in the fourth quarter. Wells Fargo & Company MN now owns 9,130 shares of the bank's stock valued at $249,000 after acquiring an additional 1,141 shares during the period. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Financial Institutions Stock Down 0.8 %

Shares of NASDAQ:FISI traded down $0.22 during mid-day trading on Wednesday, hitting $25.77. 98,930 shares of the company traded hands, compared to its average volume of 103,163. The stock has a 50-day moving average price of $24.67 and a two-hundred day moving average price of $26.20. Financial Institutions, Inc. has a 12-month low of $16.81 and a 12-month high of $29.79. The stock has a market cap of $518.13 million, a P/E ratio of -17.77 and a beta of 0.70. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26.

Financial Institutions (NASDAQ:FISI - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The bank reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.07. Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. The firm had revenue of $57.24 million for the quarter, compared to the consensus estimate of $57.14 million. On average, equities research analysts forecast that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 14th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.81%. This is an increase from Financial Institutions's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, March 14th. Financial Institutions's dividend payout ratio is presently -165.33%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods upgraded Financial Institutions from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $29.00 to $34.00 in a report on Monday, February 3rd. StockNews.com lowered shares of Financial Institutions from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, Stephens reissued an "equal weight" rating and set a $32.00 target price on shares of Financial Institutions in a research report on Tuesday, March 11th.

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.