Strs Ohio Reduces Position in Financial Institutions, Inc. (FISI)
Strs Ohio lowered its stake in Financial Institutions, Inc. (NASDAQ:FISI) by 11.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,400 shares of the bank’s stock after selling 2,800 shares during the quarter. Strs Ohio’s holdings in Financial Institutions were worth $696,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Brandywine Global Investment Management LLC boosted its holdings in Financial Institutions by 17.4% in the second quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock worth $142,000 after purchasing an additional 702 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Financial Institutions in the third quarter worth approximately $139,000. Dynamic Technology Lab Private Ltd purchased a new stake in Financial Institutions in the second quarter worth approximately $216,000. Virtu KCG Holdings LLC purchased a new stake in Financial Institutions in the second quarter worth approximately $219,000. Finally, Wells Fargo & Company MN boosted its holdings in Financial Institutions by 1.7% in the second quarter. Wells Fargo & Company MN now owns 9,351 shares of the bank’s stock worth $279,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.
Financial Institutions, Inc. (NASDAQ:FISI) opened at $30.80 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. Financial Institutions, Inc. has a 52-week low of $25.65 and a 52-week high of $35.40. The firm has a market cap of $472.70, a P/E ratio of 15.59 and a beta of 1.16.
In other Financial Institutions news, Director Andrew W. Dorn, Jr. purchased 1,557 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were acquired at an average cost of $30.95 per share, for a total transaction of $48,189.15. Following the completion of the transaction, the director now owns 16,999 shares of the company’s stock, valued at $526,119.05. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Martin Kearney Birmingham purchased 1,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was acquired at an average price of $31.65 per share, for a total transaction of $31,650.00. Following the completion of the transaction, the chief executive officer now directly 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. Insiders acquired 6,496 shares of company stock worth $207,123 over the last quarter. Insiders own 5.49% of the company’s stock.
Several equities research analysts recently issued reports on FISI shares. BidaskClub upgraded shares of Financial Institutions from a “strong sell” rating to a “sell” rating in a report on Wednesday. Hovde Group restated a “buy” rating and issued a $36.00 target price on shares of Financial Institutions in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $33.00 target price on shares of Financial Institutions in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $33.50.
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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