Insider Buying: Financial Institutions, Inc. (FISI) Director Purchases $32,340.00 in Stock
Financial Institutions, Inc. (NASDAQ:FISI) Director Robert M. Glaser bought 1,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were acquired at an average cost of $32.34 per share, for a total transaction of $32,340.00. Following the completion of the transaction, the director now directly owns 13,451 shares of the company’s stock, valued at $435,005.34. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Financial Institutions, Inc. (NASDAQ:FISI) traded up $0.25 during midday trading on Friday, hitting $32.50. 163,693 shares of the company traded hands, compared to its average volume of 57,738. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. Financial Institutions, Inc. has a twelve month low of $25.65 and a twelve month high of $35.40. The company has a market capitalization of $507.85, a PE ratio of 16.17 and a beta of 1.24.
Financial Institutions (NASDAQ:FISI) last released its earnings results on Tuesday, October 24th. The bank reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. Financial Institutions had a net margin of 19.46% and a return on equity of 9.66%. The business had revenue of $37.01 million during the quarter. sell-side analysts predict that Financial Institutions, Inc. will post 1.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 14th will be paid a dividend of $0.22 per share. This is a boost from Financial Institutions’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.71%. Financial Institutions’s dividend payout ratio (DPR) is currently 43.78%.
Several equities analysts have commented on FISI shares. Keefe, Bruyette & Woods reissued a “hold” rating and set a $33.00 target price on shares of Financial Institutions in a research report on Friday, September 22nd. Piper Jaffray Companies restated 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.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its stake in Financial Institutions by 1.7% during 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 period. Brandywine Global Investment Management LLC increased its holdings in shares of Financial Institutions by 17.4% during the second quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock worth $142,000 after buying an additional 702 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Financial Institutions by 3.3% during the second quarter. Teachers Advisors LLC now owns 24,496 shares of the bank’s stock worth $730,000 after buying an additional 777 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Financial Institutions by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 12,560 shares of the bank’s stock worth $374,000 after buying an additional 860 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of Financial Institutions by 7.9% during the second quarter. Strs Ohio now owns 23,100 shares of the bank’s stock worth $688,000 after buying an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece of content was first published by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2017/12/17/insider-buying-financial-institutions-inc-fisi-director-purchases-32340-00-in-stock.html.
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.
Receive News & Ratings for Financial Institutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Financial Institutions and related companies with MarketBeat.com's FREE daily email newsletter.