Financial Institutions, Inc. (FISI) Insider Purchases $19,399.20 in Stock
Financial Institutions, Inc. (NASDAQ:FISI) insider Paula Dollinger Dolan purchased 590 shares of the stock in a transaction dated Friday, December 8th. The shares were bought at an average price of $32.88 per share, with a total value of $19,399.20. Following the completion of the acquisition, the insider now directly owns 8,221 shares of the company’s stock, valued at approximately $270,306.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Financial Institutions, Inc. (NASDAQ FISI) remained flat at $$32.65 during trading hours on Monday. The company’s stock had a trading volume of 89,734 shares, compared to its average volume of 60,809. The company has a market capitalization of $510.20, a price-to-earnings ratio of 16.24 and a beta of 1.24. 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 one year low of $25.65 and a one year high of $35.40.
Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $37.01 million during the quarter. Financial Institutions had a net margin of 19.46% and a return on equity of 9.66%. research analysts predict that Financial Institutions, Inc. will post 1.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Thursday, December 14th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This is an increase from Financial Institutions’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.70%. Financial Institutions’s dividend payout ratio is 41.79%.
Several brokerages have recently issued reports on FISI. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 price target on shares of Financial Institutions in a report on Thursday, October 26th. Piper Jaffray Companies reiterated a “hold” rating and set a $31.50 price target on shares of Financial Institutions in a report on Wednesday, October 4th. Finally, ValuEngine upgraded shares of Financial Institutions from a “hold” rating to a “buy” rating in a report on Monday, October 2nd.
Several large investors have recently made changes to their positions in FISI. IFC Holdings Incorporated FL increased its holdings in Financial Institutions by 0.7% in the second quarter. IFC Holdings Incorporated FL now owns 9,409 shares of the bank’s stock valued at $280,000 after purchasing an additional 62 shares during the period. Wells Fargo & Company MN increased 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 valued at $279,000 after purchasing an additional 159 shares during the period. Brandywine Global Investment Management LLC increased 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 valued at $142,000 after purchasing an additional 702 shares during the period. Teachers Advisors LLC increased its holdings in Financial Institutions by 3.3% in the second quarter. Teachers Advisors LLC now owns 24,496 shares of the bank’s stock valued at $730,000 after purchasing an additional 777 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Financial Institutions by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 12,560 shares of the bank’s stock valued at $374,000 after purchasing an additional 860 shares during the period. Institutional investors own 69.25% 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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