Menta Capital LLC Buys 21,491 Shares of Financial Institutions, Inc. (FISI)
Menta Capital LLC lifted its stake in Financial Institutions, Inc. (NASDAQ:FISI) by 102.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,495 shares of the bank’s stock after purchasing an additional 21,491 shares during the quarter. Menta Capital LLC owned about 0.29% of Financial Institutions worth $1,266,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of FISI. JPMorgan Chase & Co. increased its holdings in shares of Financial Institutions by 72.6% in the first 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 during the last quarter. Thrivent Financial For Lutherans acquired a new stake in shares of Financial Institutions in the second quarter valued at approximately $2,401,000. ClariVest Asset Management LLC increased its holdings in shares of Financial Institutions by 64.0% in the second 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Financial Institutions by 6.6% in the first 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 during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Financial Institutions by 29.6% in the first 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 during the last quarter. 67.11% of the stock is owned by hedge funds and other institutional investors.
Financial Institutions, Inc. (FISI) opened at 28.00 on Friday. The company has a 50-day moving average price of $27.25 and a 200 day moving average price of $30.49. Financial Institutions, Inc. has a 12 month low of $25.65 and a 12 month high of $35.40. The stock has a market capitalization of $419.94 million, a price-to-earnings ratio of 13.67 and a beta of 1.20.
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 Thomson Reuters’ consensus estimate of $0.48 by ($0.08). Financial Institutions had a return on equity of 10.03% and a net margin of 20.08%. The company had revenue of $36.76 million for the quarter. Equities analysts predict that Financial Institutions, Inc. will post $1.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, September 14th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, September 13th. This represents a $0.84 annualized dividend and a dividend yield of 3.00%. Financial Institutions’s dividend payout ratio is currently 40.98%.
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FISI has been the subject of several recent research reports. ValuEngine raised Financial Institutions from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $33.00 price target on shares of Financial Institutions in a report on Friday. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $31.50 price target on shares of Financial Institutions in a report on Thursday, August 3rd.
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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