Quantbot Technologies LP Takes Position in Financial Institutions, Inc. $FISI

Key Points

• Quantbot Technologies LP acquired 16,532 shares of Financial Institutions, Inc. ($FISI) worth approximately $413,000, representing a 0.08% stake in the company.
• Financial Institutions announced a quarterly dividend of $0.31, which yields 4.5% annually, with the payout date set for October 2nd.
• Wall Street analysts recently downgraded Financial Institutions from a "buy" rating to a "hold" rating, despite the stock having a consensus price target of $33.00.

Quantbot Technologies LP bought a new position in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,532 shares of the bank's stock, valued at approximately $413,000. Quantbot Technologies LP owned approximately 0.08% of Financial Institutions at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG lifted its position in shares of Financial Institutions by 105.7% during the fourth quarter. Deutsche Bank AG now owns 17,229 shares of the bank's stock worth $470,000 after acquiring an additional 8,854 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Financial Institutions by 9.0% during the first quarter. Bank of New York Mellon Corp now owns 138,103 shares of the bank's stock worth $3,447,000 after acquiring an additional 11,452 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Financial Institutions by 5.0% during the first quarter. Rhumbline Advisers now owns 24,489 shares of the bank's stock worth $611,000 after acquiring an additional 1,157 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Financial Institutions by 10.0% during the first quarter. Victory Capital Management Inc. now owns 37,000 shares of the bank's stock worth $924,000 after acquiring an additional 3,355 shares in the last quarter. Finally, Basswood Capital Management L.L.C. purchased a new stake in shares of Financial Institutions during the fourth quarter worth $8,320,000. Hedge funds and other institutional investors own 60.45% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Financial Institutions from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Financial Institutions currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

Financial Institutions Price Performance

FISI traded up $0.05 during trading on Friday, reaching $27.67. The stock had a trading volume of 64,005 shares, compared to its average volume of 139,480. The stock has a market cap of $557.00 million, a PE ratio of -18.20 and a beta of 0.79. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 0.87. Financial Institutions, Inc. has a one year low of $20.97 and a one year high of $29.78. The business has a 50-day moving average of $26.36 and a 200-day moving average of $25.85.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.07. The business had revenue of $59.74 million for the quarter, compared to analysts' expectations of $59.86 million. Financial Institutions had a positive return on equity of 10.44% and a negative net margin of 4.96%. As a group, equities research analysts anticipate that Financial Institutions, Inc. will post 3.3 EPS for the current fiscal year.

Financial Institutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Monday, September 15th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Financial Institutions's dividend payout ratio is currently -81.58%.

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.