PL Capital Advisors LLC Purchases 763,259 Shares of Financial Institutions, Inc. $FISI

Key Points

• PL Capital Advisors LLC increased its stake in Financial Institutions, Inc. by 153.3% in Q1, purchasing an additional 763,259 shares, bringing its total ownership to approximately 6.27% of the company.
• Analysts expect Financial Institutions to post an EPS of 3.3 for the current year, following a recent quarterly earnings report that showed an EPS of $0.85, exceeding expectations.
• The company declared a quarterly dividend of $0.31, which is part of an annualized dividend yield of 4.8%, although it has a negative dividend payout ratio of -81.58%.

PL Capital Advisors LLC grew its position in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 153.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,261,010 shares of the bank's stock after purchasing an additional 763,259 shares during the period. Financial Institutions accounts for about 10.6% of PL Capital Advisors LLC's investment portfolio, making the stock its 3rd largest position. PL Capital Advisors LLC owned about 6.27% of Financial Institutions worth $31,475,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FISI. JPMorgan Chase & Co. boosted its stake in shares of Financial Institutions by 239.5% during the 4th quarter. JPMorgan Chase & Co. now owns 61,484 shares of the bank's stock worth $1,678,000 after purchasing an additional 43,376 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Financial Institutions by 14.3% during 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. Invesco Ltd. boosted its position in shares of Financial Institutions by 7.2% in the fourth quarter. Invesco Ltd. now owns 38,839 shares of the bank's stock worth $1,060,000 after acquiring an additional 2,606 shares during the last quarter. Barclays PLC boosted its position in shares of Financial Institutions by 6.9% in the fourth quarter. Barclays PLC now owns 47,877 shares of the bank's stock worth $1,307,000 after acquiring an additional 3,079 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Financial Institutions by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 971,659 shares of the bank's stock worth $26,516,000 after acquiring an additional 14,733 shares during the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.

Financial Institutions Trading Down 2.3%

NASDAQ FISI opened at $25.78 on Monday. Financial Institutions, Inc. has a one year low of $20.97 and a one year high of $29.78. The company's 50 day moving average price is $26.05 and its 200 day moving average price is $25.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $518.95 million, a price-to-earnings ratio of -16.96 and a beta of 0.79.

Financial Institutions (NASDAQ:FISI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $0.85 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 firm had revenue of $59.74 million for the quarter, compared to analyst estimates of $59.86 million. On average, sell-side analysts predict that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 13th were issued a $0.31 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 4.8%. Financial Institutions's dividend payout ratio (DPR) is presently -81.58%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Financial Institutions from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th.

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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