Millennium Management LLC Invests $720,000 in Financial Institutions, Inc. (NASDAQ:FISI)

Millennium Management LLC bought a new position in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 26,378 shares of the bank's stock, valued at approximately $720,000. Millennium Management LLC owned approximately 0.17% of Financial Institutions at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management grew its position in shares of Financial Institutions by 45.5% in the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock worth $32,000 after acquiring an additional 374 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Financial Institutions in the 4th quarter worth approximately $87,000. SG Americas Securities LLC lifted its holdings in shares of Financial Institutions by 14.9% in the 4th 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Financial Institutions by 4.6% in the 4th 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 last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Financial Institutions by 14.3% in the 4th 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 last quarter. Institutional investors and hedge funds own 60.45% of the company's stock.

Financial Institutions Trading Up 2.5%

Shares of FISI stock opened at $25.80 on Friday. The stock has a 50-day simple moving average of $24.67 and a 200 day simple moving average of $26.26. The stock 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 fifty-two week low of $16.81 and a fifty-two week high of $29.79. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its 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 firm had revenue of $57.24 million for the quarter, compared to analyst estimates of $57.14 million. Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. On average, sell-side analysts expect that Financial Institutions, Inc. will post 3.3 earnings per share for the current fiscal year.

Financial Institutions Dividend Announcement

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 paid a dividend of $0.31 per share. The ex-dividend date is Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 4.81%. Financial Institutions's dividend payout ratio (DPR) is presently -165.33%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen raised Financial Institutions from a "hold" rating to a "buy" rating in a report on Friday. Stephens reissued an "equal weight" rating and issued a $32.00 price target on shares of Financial Institutions in a report on Tuesday, March 11th.

Financial Institutions 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.

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