Financial Institutions, Inc. (NASDAQ:FISI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 62.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,394 shares of the bank's stock after selling 12,399 shares during the period. BNP Paribas Financial Markets' holdings in Financial Institutions were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its position in shares of Financial Institutions by 45.5% in the fourth quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock valued at $32,000 after buying an additional 374 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Financial Institutions by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 125,323 shares of the bank's stock valued at $3,420,000 after buying an additional 895 shares during the last quarter. SG Americas Securities LLC grew 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 valued at $202,000 after purchasing an additional 964 shares during the period. R Squared Ltd purchased a new stake in Financial Institutions in the fourth quarter valued at approximately $30,000. Finally, Wells Fargo & Company MN grew its holdings 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 purchasing an additional 1,141 shares during the period. Institutional investors and hedge funds own 60.45% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on FISI. Stephens restated an "equal weight" rating and issued a $32.00 target price on shares of Financial Institutions in a report on Tuesday, March 11th. Wall Street Zen downgraded shares of Financial Institutions from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Keefe, Bruyette & Woods upgraded shares of Financial Institutions from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $29.00 to $34.00 in a report on Monday, February 3rd.

Financial Institutions Trading Up 1.4%

Financial Institutions stock traded up $0.37 during trading on Tuesday, reaching $25.89. The company had a trading volume of 82,103 shares, compared to its average volume of 105,553. 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, Inc. has a 12-month low of $16.81 and a 12-month high of $29.79. The stock's 50 day moving average price is $24.64 and its two-hundred day moving average price is $26.28. The firm has a market capitalization of $520.65 million, a price-to-earnings ratio of -17.86 and a beta of 0.70.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The bank reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $57.24 million during the quarter, compared to analyst estimates of $57.14 million. As a group, equities analysts expect that Financial Institutions, Inc. will post 3.3 earnings per share for the current fiscal year.

Financial Institutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 13th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend is Friday, June 13th. Financial Institutions's payout ratio is currently -165.33%.

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.