GAMMA Investing LLC Purchases 14,807 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

GAMMA Investing LLC grew its position in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 6,068.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,051 shares of the bank's stock after acquiring an additional 14,807 shares during the quarter. GAMMA Investing LLC owned 0.07% of Financial Institutions worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. PL Capital Advisors LLC raised its holdings in Financial Institutions by 666.8% during the 4th quarter. PL Capital Advisors LLC now owns 13,583,625 shares of the bank's stock valued at $370,697,000 after acquiring an additional 11,812,109 shares during the period. Dimensional Fund Advisors LP lifted its position in Financial Institutions by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 971,659 shares of the bank's stock valued at $26,516,000 after purchasing an additional 14,733 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Financial Institutions by 13.0% during the 4th quarter. Vanguard Group Inc. now owns 925,285 shares of the bank's stock valued at $25,251,000 after buying an additional 106,612 shares in the last quarter. Wellington Management Group LLP purchased a new position in Financial Institutions in the fourth quarter worth $18,294,000. Finally, American Century Companies Inc. increased its stake in Financial Institutions by 38.1% in the fourth quarter. American Century Companies Inc. now owns 424,825 shares of the bank's stock valued at $11,593,000 after acquiring an additional 117,142 shares during the last quarter. Institutional investors own 60.45% of the company's stock.

Financial Institutions Stock Up 1.2%

FISI stock traded up $0.31 during trading on Monday, hitting $24.91. 8,598 shares of the stock traded hands, compared to its average volume of 109,423. The stock has a market cap of $500.84 million, a price-to-earnings ratio of -33.25 and a beta of 0.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.86 and a quick ratio of 0.86. Financial Institutions, Inc. has a 1 year low of $17.34 and a 1 year high of $29.79. The firm's 50 day moving average is $25.22 and its two-hundred day moving average is $26.11.

Financial Institutions (NASDAQ:FISI - Get Free Report) last issued its earnings results on Monday, April 28th. The bank reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07. The company had revenue of $57.24 million during the quarter, compared to the consensus estimate of $57.14 million. Financial Institutions had a negative net margin of 2.63% and a positive return on equity of 12.69%. On average, sell-side analysts anticipate that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 13th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, June 13th. Financial Institutions's dividend payout ratio (DPR) is -165.33%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Stephens reiterated an "equal weight" rating and set a $32.00 price target on shares of Financial Institutions in a research report on Tuesday, March 11th. Wall Street Zen downgraded shares of Financial Institutions from a "buy" rating to a "hold" rating in a research report on Saturday.

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.