JPMorgan Chase & Co. Has $1.68 Million Position in Financial Institutions, Inc. (NASDAQ:FISI)

JPMorgan Chase & Co. lifted its stake in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 239.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 61,484 shares of the bank's stock after acquiring an additional 43,376 shares during the period. JPMorgan Chase & Co. owned 0.40% of Financial Institutions worth $1,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted 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 buying an additional 374 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Financial Institutions by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 125,323 shares of the bank's stock worth $3,420,000 after purchasing an additional 895 shares during the period. SG Americas Securities LLC lifted its position in shares of Financial Institutions by 14.9% during the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank's stock worth $202,000 after purchasing an additional 964 shares during the last quarter. R Squared Ltd bought a new stake in Financial Institutions during the 4th quarter valued at approximately $30,000. Finally, Courier Capital LLC boosted its stake in Financial Institutions by 0.5% during the 4th quarter. Courier Capital LLC now owns 352,126 shares of the bank's stock valued at $9,610,000 after purchasing an additional 1,887 shares during the period. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Financial Institutions Price Performance

Shares of Financial Institutions stock traded up $0.10 during mid-day trading on Thursday, reaching $25.49. 18,582 shares of the stock were exchanged, compared to its average volume of 101,438. The company has a market cap of $512.50 million, a price-to-earnings ratio of -17.59 and a beta of 0.68. Financial Institutions, Inc. has a fifty-two week low of $16.81 and a fifty-two week high of $29.79. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a 50-day simple moving average of $24.83 and a 200 day simple moving average of $26.21.

Financial Institutions (NASDAQ:FISI - Get Free Report) last posted its earnings results on Monday, April 28th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.07. The company had revenue of $57.24 million during the quarter, compared to analysts' expectations of $57.14 million. Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. On average, sell-side analysts predict that Financial Institutions, Inc. will post 3.3 EPS for the current fiscal year.

Financial Institutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 14th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Financial Institutions's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.87%. Financial Institutions's dividend payout ratio (DPR) is -85.52%.

Analysts Set New Price Targets

A number of brokerages have recently commented on FISI. Keefe, Bruyette & Woods raised shares of Financial Institutions from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $29.00 to $34.00 in a research report on Monday, February 3rd. Stephens reiterated an "equal weight" rating and issued a $32.00 price objective on shares of Financial Institutions in a research report on Tuesday, March 11th. Finally, StockNews.com lowered Financial Institutions from a "hold" rating to a "sell" rating in a report on Wednesday.

Financial Institutions Company 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.