Aperio Group LLC Buys 3,964 Shares of Financial Institutions, Inc. (FISI)
Aperio Group LLC increased its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 48.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,127 shares of the bank’s stock after buying an additional 3,964 shares during the period. Aperio Group LLC owned approximately 0.08% of Financial Institutions worth $361,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of FISI. Acadian Asset Management LLC increased its stake in shares of Financial Institutions by 30.1% in the first quarter. Acadian Asset Management LLC now owns 13,265 shares of the bank’s stock worth $438,000 after buying an additional 3,070 shares during the period. American International Group Inc. increased its stake in shares of Financial Institutions by 1.1% in the first quarter. American International Group Inc. now owns 8,060 shares of the bank’s stock worth $266,000 after buying an additional 85 shares during the period. TFS Capital LLC increased its stake in shares of Financial Institutions by 13.4% in the first quarter. TFS Capital LLC now owns 8,990 shares of the bank’s stock worth $296,000 after buying an additional 1,063 shares during the period. Acrospire Investment Management LLC increased its stake in shares of Financial Institutions by 39.6% in the first quarter. Acrospire Investment Management LLC now owns 4,715 shares of the bank’s stock worth $155,000 after buying an additional 1,338 shares during the period. Finally, FMR LLC increased its stake in shares of Financial Institutions by 0.6% in the first quarter. FMR LLC now owns 365,500 shares of the bank’s stock worth $12,044,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 67.11% of the company’s stock.
Financial Institutions, Inc. (NASDAQ FISI) traded up 0.37% on Wednesday, hitting $27.40. The stock had a trading volume of 39,151 shares. The firm’s 50 day moving average price is $28.68 and its 200-day moving average price is $31.38. The stock has a market cap of $410.95 million, a PE ratio of 13.37 and a beta of 1.19. Financial Institutions, Inc. has a 12 month low of $25.98 and a 12 month high of $35.40.
Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.08. Financial Institutions had a return on equity of 7.39% and a net margin of 16.99%. The company had revenue of $36.76 million for the quarter. On average, analysts forecast that Financial Institutions, Inc. will post $1.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, September 14th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Wednesday, September 13th. Financial Institutions’s dividend payout ratio is presently 40.98%.
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A number of research firms have recently commented on FISI. ValuEngine raised Financial Institutions from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $31.50 target price on shares of Financial Institutions in a research note on Thursday, August 3rd.
About Financial Institutions
Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.
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