16,043 Shares in Financial Institutions, Inc. $FISI Acquired by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd has invested $400,000 in Financial Institutions, Inc. by acquiring 16,043 shares, increasing its stake to 0.08% of the company.
• Financial Institutions recently reported earnings of $0.85 per share, surpassing analyst expectations of $0.78, and announced a quarterly dividend of $0.31 per share scheduled for October 2nd.
• Several institutional investors, including PL Capital Advisors and Adage Capital Partners, have significantly increased their holdings in Financial Institutions during the first quarter of this year, contributing to a total institutional ownership of 60.45%.

Dynamic Technology Lab Private Ltd purchased a new stake in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 16,043 shares of the bank's stock, valued at approximately $400,000. Dynamic Technology Lab Private Ltd owned about 0.08% of Financial Institutions as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp grew its position in Financial Institutions by 3.5% during the fourth quarter. Northern Trust Corp now owns 195,861 shares of the bank's stock worth $5,345,000 after buying an additional 6,637 shares in the last quarter. Ameriprise Financial Inc. grew its position in Financial Institutions by 20.8% during the fourth quarter. Ameriprise Financial Inc. now owns 135,218 shares of the bank's stock worth $3,690,000 after buying an additional 23,278 shares in the last quarter. Bank of America Corp DE grew its position in Financial Institutions by 36.9% during the fourth quarter. Bank of America Corp DE now owns 27,123 shares of the bank's stock worth $740,000 after buying an additional 7,306 shares in the last quarter. Deutsche Bank AG grew its position in Financial Institutions by 105.7% during 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. Finally, Jacobs Levy Equity Management Inc. grew its position in Financial Institutions by 1.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 60,320 shares of the bank's stock worth $1,646,000 after buying an additional 595 shares in the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.

Financial Institutions Price Performance

Shares of NASDAQ:FISI traded up $0.44 during trading on Wednesday, reaching $26.73. The stock had a trading volume of 6,726 shares, compared to its average volume of 154,590. Financial Institutions, Inc. has a 52 week low of $20.97 and a 52 week high of $29.78. The business's 50-day moving average price is $26.58 and its 200 day moving average price is $25.72. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $537.99 million, a PE ratio of -17.62 and a beta of 0.74.

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

Financial Institutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Monday, September 15th will be paid a $0.31 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.6%. Financial Institutions's payout ratio is -81.58%.

Wall Street Analyst Weigh In

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

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.