Financial Institutions, Inc. (NASDAQ:FISI) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP lifted its stake in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 78.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,622 shares of the bank's stock after purchasing an additional 39,007 shares during the period. Two Sigma Investments LP owned 0.57% of Financial Institutions worth $2,418,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Financial Institutions during the 4th quarter valued at $30,000. Picton Mahoney Asset Management boosted its stake 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 worth $32,000 after acquiring an additional 374 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Financial Institutions during the fourth quarter worth about $87,000. SG Americas Securities LLC raised its stake in Financial Institutions by 14.9% during the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank's stock valued at $202,000 after purchasing an additional 964 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Financial Institutions by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,716 shares of the bank's stock valued at $238,000 after purchasing an additional 380 shares during the period. 60.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen cut shares of Financial Institutions from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Stephens reaffirmed an "equal weight" rating and issued a $32.00 target price on shares of Financial Institutions in a report on Tuesday, March 11th.

Financial Institutions Trading Down 1.2%

NASDAQ:FISI traded down $0.30 during midday trading on Wednesday, hitting $25.59. The stock had a trading volume of 5,788 shares, compared to its average volume of 105,165. The stock has a 50-day moving average of $24.64 and a 200 day moving average of $26.28. The company has a market capitalization of $514.61 million, a price-to-earnings ratio of -17.60 and a beta of 0.70. Financial Institutions, Inc. has a one year low of $16.81 and a one year 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 announced its quarterly earnings results on Monday, April 28th. The bank reported $0.81 earnings per share 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 firm had revenue of $57.24 million during the quarter, compared to analysts' expectations of $57.14 million. As a group, sell-side analysts forecast that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 13th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 4.85%. Financial Institutions's dividend payout ratio is presently -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.