The Manufacturers Life Insurance Company Has $302,000 Stake in Financial Institutions, Inc. (NASDAQ:FISI)

The Manufacturers Life Insurance Company decreased its position in Financial Institutions, Inc. (NASDAQ:FISI) by 8.6% in the first quarter, HoldingsChannel reports. The firm owned 9,983 shares of the bank’s stock after selling 934 shares during the period. The Manufacturers Life Insurance Company’s holdings in Financial Institutions were worth $302,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. LSV Asset Management boosted its stake in Financial Institutions by 1.6% in the 1st quarter. LSV Asset Management now owns 426,072 shares of the bank’s stock worth $12,905,000 after purchasing an additional 6,879 shares during the period. Cutler Capital Management LLC boosted its stake in Financial Institutions by 10.5% in the 1st quarter. Cutler Capital Management LLC now owns 21,000 shares of the bank’s stock worth $636,000 after purchasing an additional 2,000 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Financial Institutions by 14.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 16,175 shares of the bank’s stock valued at $490,000 after buying an additional 2,041 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Financial Institutions by 0.9% during the 4th quarter. JPMorgan Chase & Co. now owns 274,584 shares of the bank’s stock valued at $6,178,000 after buying an additional 2,497 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Financial Institutions during the 4th quarter valued at $357,000. 67.28% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:FISI opened at $30.94 on Friday. The firm’s fifty day moving average is $31.37. The firm has a market cap of $489.75 million, a price-to-earnings ratio of 8.79 and a beta of 1.19. Financial Institutions, Inc. has a 12-month low of $14.10 and a 12-month high of $33.12. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.16.

Financial Institutions (NASDAQ:FISI) last issued its earnings results on Wednesday, April 28th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. The company had revenue of $50.82 million during the quarter, compared to analyst estimates of $47.19 million. Financial Institutions had a net margin of 27.74% and a return on equity of 13.01%. Sell-side analysts expect that Financial Institutions, Inc. will post 3.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 2nd. Shareholders of record on Friday, June 18th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, June 17th. Financial Institutions’s dividend payout ratio (DPR) is currently 46.96%.

In other Financial Institutions news, Director Andrew W. Dorn, Jr. purchased 1,100 shares of the business’s stock in a transaction dated Monday, May 3rd. The shares were acquired at an average price of $32.05 per share, for a total transaction of $35,255.00. Following the acquisition, the director now owns 27,522 shares of the company’s stock, valued at $882,080.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.96% of the stock is currently owned by company insiders.

Financial Institutions Profile

Financial Institutions, Inc operates as a holding company for the Five Star Bank that provides banking and financial services to individuals, municipalities, and businesses. The company offers checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts.

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Institutional Ownership by Quarter for Financial Institutions (NASDAQ:FISI)

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