13,869 Shares in Financial Institutions, Inc. $FISI Purchased by Trexquant Investment LP

Key Points

• Trexquant Investment LP acquired 13,869 shares of Financial Institutions, Inc. for approximately $346,000, increasing its stake to 0.07% of the company.
• Financial Institutions announced a quarterly dividend of $0.31 per share, scheduled for payment on October 2nd, with an annualized yield of 4.5%.
• The company's stock is currently trading at $27.33, having a market cap of $550.15 million and a year-high of $29.78.

Trexquant Investment LP bought a new stake in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,869 shares of the bank's stock, valued at approximately $346,000. Trexquant Investment LP owned about 0.07% of Financial Institutions as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Jump Financial LLC acquired a new stake in Financial Institutions in the first quarter valued at $205,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Financial Institutions by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,716 shares of the bank's stock valued at $238,000 after acquiring an additional 380 shares in the last quarter. CWM LLC lifted its position in shares of Financial Institutions by 8.1% in the first quarter. CWM LLC now owns 9,222 shares of the bank's stock valued at $230,000 after acquiring an additional 688 shares in the last quarter. Corebridge Financial Inc. lifted its position in shares of Financial Institutions by 24.2% in the first quarter. Corebridge Financial Inc. now owns 9,375 shares of the bank's stock valued at $234,000 after acquiring an additional 1,828 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Financial Institutions by 31.9% in the first quarter. MetLife Investment Management LLC now owns 11,085 shares of the bank's stock valued at $277,000 after acquiring an additional 2,680 shares in the last quarter. Institutional investors and hedge funds own 60.45% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Financial Institutions from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Financial Institutions presently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Financial Institutions Trading Down 1.8%

NASDAQ FISI traded down $0.48 during trading hours on Monday, hitting $26.57. 91,555 shares of the company's stock were exchanged, compared to its average volume of 114,914. The business's 50 day moving average is $26.60 and its 200-day moving average is $25.72. Financial Institutions, Inc. has a 12-month low of $20.97 and a 12-month high of $29.78. The firm has a market capitalization of $534.85 million, a P/E ratio of -17.48 and a beta of 0.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 0.87.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. Financial Institutions had a positive return on equity of 10.44% and a negative net margin of 4.96%.The firm had revenue of $59.74 million for the quarter, compared to the consensus estimate of $59.86 million. As a group, analysts anticipate that Financial Institutions, Inc. will post 3.3 EPS for the current fiscal year.

Financial Institutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Monday, September 15th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, September 15th. This represents a $1.24 annualized dividend and a yield of 4.7%. Financial Institutions's dividend payout ratio is -81.58%.

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.