Kennedy Capital Management LLC Makes New $955,000 Investment in Financial Institutions, Inc. (NASDAQ:FISI)

Kennedy Capital Management LLC acquired a new position in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 35,000 shares of the bank's stock, valued at approximately $955,000. Kennedy Capital Management LLC owned approximately 0.23% of Financial Institutions as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in FISI. Picton Mahoney Asset Management grew its holdings in shares of Financial Institutions by 45.5% during the fourth quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock valued at $32,000 after buying an additional 374 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Financial Institutions by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 125,323 shares of the bank's stock valued at $3,420,000 after purchasing an additional 895 shares during the period. SG Americas Securities LLC increased its holdings in shares of Financial Institutions by 14.9% in 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. R Squared Ltd purchased a new stake in shares of Financial Institutions in the fourth quarter worth approximately $30,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Financial Institutions by 14.3% during the fourth quarter. Wells Fargo & Company MN now owns 9,130 shares of the bank's stock worth $249,000 after purchasing an additional 1,141 shares during the period. 60.45% of the stock is owned by institutional investors and hedge funds.

Financial Institutions Stock Down 0.5 %

Shares of Financial Institutions stock traded down $0.11 during midday trading on Friday, reaching $22.35. 241,152 shares of the company's stock traded hands, compared to its average volume of 98,181. The company has a market cap of $448.74 million, a price-to-earnings ratio of -15.41 and a beta of 0.68. Financial Institutions, Inc. has a 52 week low of $16.81 and a 52 week high of $29.79. The company's 50 day simple moving average is $25.61 and its 200 day simple moving average is $26.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86.

Financial Institutions (NASDAQ:FISI - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.20). Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. Equities analysts expect that Financial Institutions, Inc. will post 3.3 earnings per share for the current fiscal year.

Financial Institutions Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 5.55%. This is a boost from Financial Institutions's previous quarterly dividend of $0.30. Financial Institutions's dividend payout ratio is presently -85.52%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FISI shares. Keefe, Bruyette & Woods upgraded shares of Financial Institutions from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $29.00 to $34.00 in a research report on Monday, February 3rd. Stephens restated an "equal weight" rating and issued a $32.00 target price on shares of Financial Institutions in a research note on Tuesday, March 11th. Finally, StockNews.com raised Financial Institutions from a "sell" rating to a "hold" rating in a research report on Tuesday, February 11th.

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.