Mackenzie Financial Corp Acquires New Shares in Financial Institutions, Inc. (NASDAQ:FISI)

Mackenzie Financial Corp acquired a new stake in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,114 shares of the bank's stock, valued at approximately $440,000. Mackenzie Financial Corp owned 0.10% of Financial Institutions as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. R Squared Ltd bought a new position in shares of Financial Institutions during the fourth quarter worth approximately $30,000. Picton Mahoney Asset Management increased its stake in shares of Financial Institutions by 45.5% during the fourth quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock worth $32,000 after purchasing an additional 374 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Financial Institutions during the fourth quarter worth approximately $87,000. SG Americas Securities LLC increased its stake in shares of Financial Institutions by 14.9% during the fourth quarter. SG Americas Securities LLC now owns 7,418 shares of the bank's stock worth $202,000 after purchasing an additional 964 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Financial Institutions by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,716 shares of the bank's stock worth $238,000 after purchasing an additional 380 shares during the period. Institutional investors own 60.45% of the company's stock.

Analyst Upgrades and Downgrades

FISI has been the topic of a number of recent research reports. Stephens reiterated an "equal weight" rating and set a $32.00 target price on shares of Financial Institutions in a research note on Tuesday, March 11th. Wall Street Zen raised Financial Institutions from a "hold" rating to a "buy" rating in a research report on Friday.

Financial Institutions Price Performance

NASDAQ:FISI traded up $0.63 during trading hours on Friday, reaching $25.80. 62,522 shares of the company were exchanged, compared to its average volume of 106,253. The company has a market capitalization of $518.84 million, a P/E ratio of -17.79 and a beta of 0.72. Financial Institutions, Inc. has a 1-year low of $16.81 and a 1-year high of $29.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day moving average of $24.67 and a 200 day moving average of $26.26.

Financial Institutions (NASDAQ:FISI - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The bank reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.07. The business had revenue of $57.24 million for the quarter, compared to the consensus estimate of $57.14 million. Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. Research analysts forecast that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 13th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend is Friday, June 13th. Financial Institutions's dividend payout ratio is presently -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.