Rhino Investment Partners Inc Purchases Shares of 261,051 Financial Institutions, Inc. (NASDAQ:FISI)

Rhino Investment Partners Inc purchased a new stake in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 261,051 shares of the bank's stock, valued at approximately $7,124,000. Financial Institutions makes up 1.6% of Rhino Investment Partners Inc's holdings, making the stock its 24th largest holding. Rhino Investment Partners Inc owned 1.69% of Financial Institutions at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. R Squared Ltd acquired a new position in Financial Institutions during the 4th quarter valued at about $30,000. Picton Mahoney Asset Management increased its position in shares of Financial Institutions by 45.5% in the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock valued at $32,000 after acquiring an additional 374 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Financial Institutions in the 4th quarter worth $87,000. SG Americas Securities LLC increased 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 valued at $202,000 after purchasing an additional 964 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Financial Institutions by 14.3% in 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 last quarter. Institutional investors own 60.45% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Financial Institutions from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Keefe, Bruyette & Woods upgraded Financial Institutions from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $29.00 to $34.00 in a research note on Monday, February 3rd. Finally, Stephens reaffirmed an "equal weight" rating and set a $32.00 target price on shares of Financial Institutions in a report on Tuesday, March 11th.

Financial Institutions Trading Down 0.4 %

NASDAQ FISI traded down $0.10 on Tuesday, reaching $26.06. 47,127 shares of the company were exchanged, compared to its average volume of 102,530. The business's fifty day moving average price is $24.70 and its 200 day moving average price is $26.20. 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 stock has a market capitalization of $523.97 million, a P/E ratio of -17.95 and a beta of 0.68.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its quarterly 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. Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. The business had revenue of $57.24 million for the quarter, compared to the consensus estimate of $57.14 million. 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 paid a dividend of $0.31 per share. 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 yield of 4.76%. Financial Institutions's dividend payout ratio is -165.33%.

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.