Kennedy Capital Management Inc. Sells 98,196 Shares of Financial Institutions, Inc. (FISI)
Kennedy Capital Management Inc. trimmed its position in Financial Institutions, Inc. (NASDAQ:FISI) by 68.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,035 shares of the bank’s stock after selling 98,196 shares during the period. Kennedy Capital Management Inc. owned about 0.31% of Financial Institutions worth $1,342,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in FISI. JPMorgan Chase & Co. lifted its holdings in Financial Institutions by 72.6% in the 1st quarter. JPMorgan Chase & Co. now owns 504,240 shares of the bank’s stock valued at $16,615,000 after purchasing an additional 212,141 shares in the last quarter. ClariVest Asset Management LLC lifted its holdings in Financial Institutions by 64.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 145,814 shares of the bank’s stock valued at $4,345,000 after purchasing an additional 56,900 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Financial Institutions by 6.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 890,069 shares of the bank’s stock valued at $29,328,000 after purchasing an additional 55,144 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Financial Institutions by 29.6% in the 1st quarter. Prudential Financial Inc. now owns 237,122 shares of the bank’s stock valued at $7,813,000 after purchasing an additional 54,180 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 purchasing an additional 53,552 shares in the last quarter. Institutional investors own 67.11% of the company’s stock.
Financial Institutions, Inc. (NASDAQ:FISI) opened at 27.85 on Thursday. The firm has a 50-day moving average of $27.25 and a 200-day moving average of $30.49. The stock has a market capitalization of $417.69 million, a price-to-earnings ratio of 13.59 and a beta of 1.20. Financial Institutions, Inc. has a 12-month low of $25.65 and a 12-month high of $35.40.
Financial Institutions (NASDAQ:FISI) last issued 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). The company 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%. Equities research analysts forecast that Financial Institutions, Inc. will post $1.96 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, September 14th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.84 dividend on an annualized basis and a yield of 3.02%. Financial Institutions’s dividend payout ratio is currently 40.98%.
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A number of research analysts have issued reports on the stock. ValuEngine lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Piper Jaffray Companies restated a “hold” rating and issued a $31.50 target price on shares of Financial Institutions in a report on Thursday, August 3rd.
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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