Hotchkis & Wiley Capital Management LLC Has $8.70 Million Stock Holdings in Financial Institutions, Inc. $FISI

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Financial Institutions, Inc. by 132.8%, acquiring an additional 198,820 shares to reach a total of 348,478 shares valued at approximately $8.7 million.
• Financial Institutions recently reported a quarterly earnings per share (EPS) of $0.85, surpassing the consensus estimate of $0.78, despite a negative net margin of 4.96%.
• Wall Street Zen downgraded Financial Institutions from a "buy" to a "hold" rating, with an average price target of $33.00 per share according to analysts.

Hotchkis & Wiley Capital Management LLC boosted its position in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 132.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 348,478 shares of the bank's stock after purchasing an additional 198,820 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 1.73% of Financial Institutions worth $8,698,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FISI. Wells Fargo & Company MN lifted its position in Financial Institutions by 14.3% in the fourth quarter. Wells Fargo & Company MN now owns 9,130 shares of the bank's stock worth $249,000 after purchasing an additional 1,141 shares during the period. Invesco Ltd. lifted its position in shares of Financial Institutions by 7.2% during the 4th quarter. Invesco Ltd. now owns 38,839 shares of the bank's stock valued at $1,060,000 after acquiring an additional 2,606 shares during the last quarter. Barclays PLC lifted its position in shares of Financial Institutions by 6.9% during the 4th quarter. Barclays PLC now owns 47,877 shares of the bank's stock valued at $1,307,000 after acquiring an additional 3,079 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Financial Institutions by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 971,659 shares of the bank's stock valued at $26,516,000 after acquiring an additional 14,733 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Financial Institutions during the 4th quarter valued at $11,168,000. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Financial Institutions Stock Up 0.1%

NASDAQ:FISI traded up $0.02 during trading hours on Thursday, hitting $27.62. 132,537 shares of the stock traded hands, compared to its average volume of 159,761. The firm has a 50 day moving average price of $26.24 and a 200 day moving average price of $25.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.20. Financial Institutions, Inc. has a fifty-two week low of $20.97 and a fifty-two week high of $29.78. The firm has a market cap of $555.99 million, a price-to-earnings ratio of -18.17 and a beta of 0.79.

Financial Institutions (NASDAQ:FISI - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $59.86 million. Equities research analysts anticipate that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Dividend Announcement

The business also recently declared 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 of this dividend is Monday, September 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.5%. Financial Institutions's dividend 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Financial Institutions has an average rating of "Moderate Buy" and a consensus 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.