Financial Institutions, Inc. (NASDAQ:FISI) is Bayview Asset Management LLC's 4th Largest Position

Bayview Asset Management LLC raised its holdings in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 1,345.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 171,889 shares of the bank's stock after acquiring an additional 160,000 shares during the quarter. Financial Institutions accounts for about 3.8% of Bayview Asset Management LLC's holdings, making the stock its 4th biggest position. Bayview Asset Management LLC owned about 1.11% of Financial Institutions worth $4,691,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Basswood Capital Management L.L.C. purchased a new position in Financial Institutions during the 4th quarter valued at about $8,320,000. Ameriprise Financial Inc. raised its holdings in shares of Financial Institutions by 20.8% in the fourth quarter. Ameriprise Financial Inc. now owns 135,218 shares of the bank's stock worth $3,690,000 after acquiring an additional 23,278 shares during the last quarter. Rhino Investment Partners Inc acquired a new position in shares of Financial Institutions in the fourth quarter worth $7,124,000. Northern Trust Corp lifted its position in shares of Financial Institutions by 3.5% in the fourth quarter. Northern Trust Corp now owns 195,861 shares of the bank's stock valued at $5,345,000 after acquiring an additional 6,637 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Financial Institutions during the fourth quarter valued at $2,456,000. 60.45% of the stock is currently owned by hedge funds and other institutional investors.

Financial Institutions Trading Down 0.8 %

FISI stock traded down $0.21 on Friday, hitting $26.32. 40,447 shares of the company were exchanged, compared to its average volume of 178,025. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $529.30 million, a price-to-earnings ratio of -18.15 and a beta of 0.70. Financial Institutions, Inc. has a twelve month low of $16.81 and a twelve month high of $29.78. The business's fifty day moving average is $24.60 and its two-hundred day moving average is $26.21.

Financial Institutions (NASDAQ:FISI - Get Free Report) last issued its 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 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, research analysts forecast that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 14th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.71%. This is a boost from Financial Institutions's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, March 14th. Financial Institutions's payout ratio is -165.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Financial Institutions from a "sell" rating to a "hold" rating in a report on Thursday. Keefe, Bruyette & Woods upgraded shares of Financial Institutions from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $29.00 to $34.00 in a research report on Monday, February 3rd. Finally, Stephens reiterated 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 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.