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

Millennium Management LLC acquired a new position in shares of 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 firm acquired 26,378 shares of the bank's stock, valued at approximately $720,000. Millennium Management LLC owned about 0.17% of Financial Institutions as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 buying an additional 380 shares during the period. Lazard Asset Management LLC increased its stake in shares of Financial Institutions by 31.6% during the 4th quarter. Lazard Asset Management LLC now owns 28,986 shares of the bank's stock valued at $791,000 after acquiring an additional 6,959 shares during the last quarter. Jacobs Asset Management LLC acquired a new position in shares of Financial Institutions during the 4th quarter valued at about $4,133,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Financial Institutions by 1.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 60,320 shares of the bank's stock worth $1,646,000 after acquiring an additional 595 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Financial Institutions by 105.7% during the 4th quarter. Deutsche Bank AG now owns 17,229 shares of the bank's stock worth $470,000 after acquiring an additional 8,854 shares during the period. Hedge funds and other institutional investors own 60.45% of the company's stock.

Financial Institutions Trading Up 1.3%

FISI traded up $0.33 on Tuesday, reaching $26.38. 99,436 shares of the company's stock were exchanged, compared to its average volume of 106,368. Financial Institutions, Inc. has a twelve month low of $16.81 and a twelve month high of $29.79. The company's 50 day moving average is $24.76 and its 200-day moving average is $26.24. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $530.50 million, a price-to-earnings ratio of -18.19 and a beta of 0.72.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The bank reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.07. Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. The company had revenue of $57.24 million during the quarter, compared to analyst estimates of $57.14 million. Equities analysts predict 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 Wednesday, July 2nd. Investors of record on Friday, June 13th will be issued a $0.31 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 4.70%. Financial Institutions's dividend payout ratio is currently -165.33%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FISI shares. Wall Street Zen upgraded shares of Financial Institutions from a "hold" rating to a "buy" rating in a report on Friday. Stephens reissued an "equal weight" rating and set a $32.00 price objective on shares of Financial Institutions in a research note on Tuesday, March 11th.

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.