StockNews.com Begins Coverage on Financial Institutions (NASDAQ:FISI)

StockNews.com initiated coverage on shares of Financial Institutions (NASDAQ:FISI – Get Rating) in a research note published on Thursday morning. The brokerage issued a hold rating on the bank’s stock.

Financial Institutions Stock Performance

Shares of FISI stock traded down $1.67 during trading on Thursday, reaching $19.73. The company had a trading volume of 170,947 shares, compared to its average volume of 46,930. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50 day simple moving average is $24.20 and its two-hundred day simple moving average is $24.54. The company has a market capitalization of $303.45 million, a PE ratio of 5.54 and a beta of 0.90. Financial Institutions has a one year low of $19.41 and a one year high of $32.74.

Financial Institutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Thursday, March 16th will be given a $0.30 dividend. This is a boost from Financial Institutions’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend is Wednesday, March 15th. Financial Institutions’s dividend payout ratio (DPR) is 33.71%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FISI. Great West Life Assurance Co. Can lifted its holdings in shares of Financial Institutions by 177.3% during the first quarter. Great West Life Assurance Co. Can now owns 857 shares of the bank’s stock valued at $26,000 after acquiring an additional 548 shares during the period. Captrust Financial Advisors increased its position in Financial Institutions by 107.1% in the second quarter. Captrust Financial Advisors now owns 1,073 shares of the bank’s stock worth $28,000 after purchasing an additional 555 shares during the period. Citigroup Inc. increased its position in Financial Institutions by 189.6% in the fourth quarter. Citigroup Inc. now owns 1,758 shares of the bank’s stock worth $43,000 after purchasing an additional 1,151 shares during the period. Nisa Investment Advisors LLC increased its position in Financial Institutions by 31.3% in the third quarter. Nisa Investment Advisors LLC now owns 2,940 shares of the bank’s stock worth $70,000 after purchasing an additional 700 shares during the period. Finally, Advisor Group Holdings Inc. grew its position in shares of Financial Institutions by 102.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,960 shares of the bank’s stock worth $72,000 after buying an additional 1,495 shares during the period. 67.34% of the stock is owned by institutional investors.

Financial Institutions Company Profile

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Financial Institutions, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Banking, Non-Banking, and Holding Company and Other. The Banking segment includes retail and commercial banking operations. The Non-Banking segment consists of the activities of SDN, a full-service insurance agency that offers insurance services to both personal and business clients, and Courier Capital, an investment advisor and wealth management firm that delivers customized investment management, investment consulting, and retirement plan services to individuals, businesses, institutions, foundations, and retirement plans.