Squarepoint Ops LLC Makes New Investment in Financial Institutions, Inc. (NASDAQ:FISI)

Squarepoint Ops LLC acquired a new stake in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,218 shares of the bank's stock, valued at approximately $388,000. Squarepoint Ops LLC owned about 0.09% of Financial Institutions as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FISI. Picton Mahoney Asset Management raised its position in shares of Financial Institutions by 45.5% in the fourth quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock valued at $32,000 after purchasing an additional 374 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 valued at $238,000 after buying an additional 380 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Financial Institutions by 1.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 60,320 shares of the bank's stock valued at $1,646,000 after acquiring an additional 595 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Financial Institutions by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 125,323 shares of the bank's stock worth $3,420,000 after acquiring an additional 895 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Financial Institutions by 14.9% in the fourth quarter. SG Americas Securities LLC now owns 7,418 shares of the bank's stock worth $202,000 after acquiring an additional 964 shares during the period. 60.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of 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 Price Performance

Shares of Financial Institutions stock traded up $0.25 during trading on Monday, hitting $26.05. The stock had a trading volume of 74,178 shares, compared to its average volume of 106,124. The firm has a market cap of $523.87 million, a price-to-earnings ratio of -17.97 and a beta of 0.72. Financial Institutions, Inc. has a 12 month low of $16.81 and a 12 month high of $29.79. The business's 50-day moving average is $24.68 and its 200 day moving average is $26.23. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26.

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

Financial Institutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 13th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Friday, June 13th. Financial Institutions's dividend payout ratio is currently -165.33%.

About Financial Institutions

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.