Financial Institutions, Inc. (FISI) Holdings Maintained by Eaton Vance Management
Eaton Vance Management maintained its stake in Financial Institutions, Inc. (NASDAQ:FISI) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,335 shares of the bank’s stock at the end of the second quarter. Eaton Vance Management owned 0.64% of Financial Institutions worth $2,781,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of FISI. Smith Asset Management Group LP lifted its stake in shares of Financial Institutions by 820.2% during the second quarter. Smith Asset Management Group LP now owns 7,638 shares of the bank’s stock worth $228,000 after purchasing an additional 6,808 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Financial Institutions during the first quarter worth about $264,000. American International Group Inc. lifted its stake in shares of Financial Institutions by 1.1% during the first quarter. American International Group Inc. now owns 8,060 shares of the bank’s stock worth $266,000 after purchasing an additional 85 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of Financial Institutions during the first quarter worth about $269,000. Finally, IFC Holdings Incorporated FL lifted its stake in shares of Financial Institutions by 0.7% during the second quarter. IFC Holdings Incorporated FL now owns 9,409 shares of the bank’s stock worth $280,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 67.11% of the company’s stock.
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FISI has been the topic of a number of recent research reports. Piper Jaffray Companies restated a “hold” rating and set a $31.50 price objective on shares of Financial Institutions in a research note on Thursday, August 3rd. ValuEngine upgraded Financial Institutions from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th.
Financial Institutions, Inc. (NASDAQ:FISI) opened at 26.90 on Monday. The firm’s 50 day moving average price is $27.37 and its 200-day moving average price is $30.65. The firm has a market cap of $403.45 million, a PE ratio of 13.13 and a beta of 1.20. Financial Institutions, Inc. has a 52 week low of $25.65 and a 52 week high of $35.40.
Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.08). The business had revenue of $36.76 million during the quarter. Financial Institutions had a return on equity of 10.03% and a net margin of 20.08%. On average, analysts forecast that Financial Institutions, Inc. will post $1.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, September 14th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, September 13th. Financial Institutions’s dividend payout ratio is presently 40.98%.
Financial Institutions Profile
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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