Curi RMB Capital LLC Raises Position in Financial Institutions, Inc. $FISI

Key Points

• Curi RMB Capital LLC increased its stake in Financial Institutions, Inc. by 12.3%, acquiring an additional 10,979 shares during the first quarter, bringing its total ownership to 100,000 shares valued at approximately $2.5 million.
• Financial Institutions reported $0.85 EPS for the last quarter, exceeding analysts' expectations of $0.78, although it had a negative net margin of -4.96%.
• The company announced a quarterly dividend of $0.31 per share, set to be paid on October 2nd, with a dividend yield of 4.5%.

Curi RMB Capital LLC increased its stake in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,000 shares of the bank's stock after purchasing an additional 10,979 shares during the quarter. Curi RMB Capital LLC owned about 0.50% of Financial Institutions worth $2,496,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in shares of Financial Institutions by 105.7% in the fourth quarter. Deutsche Bank AG now owns 17,229 shares of the bank's stock worth $470,000 after buying an additional 8,854 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Financial Institutions by 9.0% during the 1st quarter. Bank of New York Mellon Corp now owns 138,103 shares of the bank's stock worth $3,447,000 after acquiring an additional 11,452 shares during the period. Rhumbline Advisers lifted its stake in Financial Institutions by 5.0% in the 1st quarter. Rhumbline Advisers now owns 24,489 shares of the bank's stock worth $611,000 after purchasing an additional 1,157 shares in the last quarter. PL Capital Advisors LLC boosted its holdings in Financial Institutions by 153.3% in the 1st quarter. PL Capital Advisors LLC now owns 1,261,010 shares of the bank's stock valued at $31,475,000 after purchasing an additional 763,259 shares during the period. Finally, Rhino Investment Partners Inc boosted its holdings in Financial Institutions by 19.9% in the 1st quarter. Rhino Investment Partners Inc now owns 313,082 shares of the bank's stock valued at $7,815,000 after purchasing an additional 52,031 shares during the period. Hedge funds and other institutional investors own 60.45% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Financial Institutions from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Financial Institutions Price Performance

FISI traded up $0.04 during trading on Thursday, reaching $27.24. The stock had a trading volume of 105,998 shares, compared to its average volume of 121,913. The business has a 50-day moving average of $26.62 and a 200-day moving average of $25.76. Financial Institutions, Inc. has a one year low of $20.97 and a one year high of $29.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $548.34 million, a PE ratio of -17.92 and a beta of 0.74.

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

Financial Institutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Monday, September 15th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, September 15th. Financial Institutions's dividend payout ratio (DPR) is presently -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.