Financial Institutions, Inc. (FISI) Holdings Boosted by Victory Capital Management Inc.
Victory Capital Management Inc. grew its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 11.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,380 shares of the bank’s stock after purchasing an additional 5,134 shares during the quarter. Victory Capital Management Inc. owned about 0.34% of Financial Institutions worth $1,472,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. IFC Holdings Incorporated FL boosted its stake in Financial Institutions by 0.7% in 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. American International Group Inc. boosted its stake in 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 purchasing an additional 85 shares in the last quarter. TFS Capital LLC boosted its stake in 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 purchasing an additional 1,063 shares in the last quarter. Strs Ohio boosted its stake in Financial Institutions by 7.9% in the second quarter. Strs Ohio now owns 23,100 shares of the bank’s stock worth $688,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in Financial Institutions by 7.2% in the first quarter. Parametric Portfolio Associates LLC now owns 28,909 shares of the bank’s stock worth $953,000 after purchasing an additional 1,945 shares in the last quarter. 67.11% of the stock is currently owned by institutional investors.
A number of research firms have commented on FISI. ValuEngine lowered Financial Institutions from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Piper Jaffray Companies restated a “hold” rating and set a $31.50 target price on shares of Financial Institutions in a research report on Thursday, August 3rd.
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Shares of Financial Institutions, Inc. (FISI) opened at 27.30 on Wednesday. The stock’s 50 day moving average price is $27.70 and its 200-day moving average price is $30.82. Financial Institutions, Inc. has a 52-week low of $25.65 and a 52-week high of $35.40. The company has a market cap of $409.45 million, a P/E ratio of 13.32 and a beta of 1.20.
Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.08). Financial Institutions had a net margin of 20.08% and a return on equity of 10.03%. The firm had revenue of $36.76 million for the quarter. Equities analysts expect that Financial Institutions, Inc. will post $1.96 EPS for the current year.
The company 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Wednesday, September 13th. Financial Institutions’s dividend payout ratio (DPR) is 40.98%.
Financial Institutions Company 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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