Financial Institutions, Inc. (FISI) Position Increased by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd boosted its stake in Financial Institutions, Inc. (NASDAQ:FISI) by 75.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,764 shares of the bank’s stock after buying an additional 5,506 shares during the quarter. Dynamic Technology Lab Private Ltd owned approximately 0.08% of Financial Institutions worth $368,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Financial Institutions by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 584,353 shares of the bank’s stock valued at $19,255,000 after buying an additional 53,552 shares in the last quarter. Aperio Group LLC boosted its stake in Financial Institutions by 48.6% in the 2nd quarter. Aperio Group LLC now owns 12,127 shares of the bank’s stock valued at $361,000 after buying an additional 3,964 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in Financial Institutions in the 2nd quarter valued at $379,000. Schwab Charles Investment Management Inc. boosted its stake in Financial Institutions by 53.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 125,064 shares of the bank’s stock valued at $3,727,000 after buying an additional 43,526 shares in the last quarter. Finally, Context BH Capital Management LP boosted its stake in Financial Institutions by 67.2% in the 3rd quarter. Context BH Capital Management LP now owns 47,458 shares of the bank’s stock valued at $1,367,000 after buying an additional 19,080 shares in the last quarter. 69.31% of the stock is currently owned by institutional investors and hedge funds.
Financial Institutions, Inc. (NASDAQ:FISI) opened at $33.10 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $516.45, a price-to-earnings ratio of 16.44 and a beta of 1.25. Financial Institutions, Inc. has a one year low of $25.65 and a one year high of $35.40.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 14th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.66%. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.21. Financial Institutions’s payout ratio is currently 41.79%.
Several brokerages recently commented on FISI. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $33.00 price target on shares of Financial Institutions in a research note on Thursday, October 26th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $31.50 price target on shares of Financial Institutions in a research note on Wednesday, October 4th. Finally, ValuEngine raised Financial Institutions from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd.
In other Financial Institutions news, insider Joseph L. Dugan acquired 930 shares of Financial Institutions stock in a transaction on Tuesday, November 21st. The shares were bought at an average price of $32.15 per share, with a total value of $29,899.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Martin Kearney Birmingham acquired 1,000 shares of Financial Institutions stock in a transaction on Monday, November 20th. The stock was acquired at an average cost of $31.65 per share, for a total transaction of $31,650.00. Following the purchase, the chief executive officer now owns 82,916 shares of the company’s stock, valued at approximately $2,624,291.40. The disclosure for this purchase can be found here. In the last three months, insiders acquired 3,349 shares of company stock worth $107,195. Insiders own 5.49% of the company’s stock.
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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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