LSV Asset Management Sells 19,200 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

LSV Asset Management reduced its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 344,957 shares of the bank’s stock after selling 19,200 shares during the period. LSV Asset Management owned about 2.24% of Financial Institutions worth $7,348,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Courier Capital LLC grew its stake in shares of Financial Institutions by 100.8% in the fourth quarter. Courier Capital LLC now owns 217,453 shares of the bank’s stock worth $4,632,000 after purchasing an additional 109,144 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Financial Institutions by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 118,872 shares of the bank’s stock worth $2,001,000 after acquiring an additional 931 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of Financial Institutions by 128.2% in the third quarter. GSA Capital Partners LLP now owns 51,877 shares of the bank’s stock worth $873,000 after acquiring an additional 29,140 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Financial Institutions by 110.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,236 shares of the bank’s stock valued at $829,000 after acquiring an additional 25,889 shares during the last quarter. Finally, Argent Trust Co increased its position in Financial Institutions by 29.4% during the 3rd quarter. Argent Trust Co now owns 46,695 shares of the bank’s stock valued at $786,000 after purchasing an additional 10,616 shares during the period. Institutional investors and hedge funds own 60.45% of the company’s stock.

Financial Institutions Stock Up 2.0 %

Financial Institutions stock opened at $18.15 on Thursday. The company has a market capitalization of $280.36 million, a PE ratio of 7.23 and a beta of 0.88. Financial Institutions, Inc. has a 12-month low of $15.22 and a 12-month high of $23.11. The firm’s fifty day moving average is $17.96 and its 200 day moving average is $18.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.28.

Financial Institutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 6.61%. Financial Institutions’s dividend payout ratio is currently 47.81%.

Analyst Upgrades and Downgrades

FISI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $23.00 price target on shares of Financial Institutions in a research report on Tuesday, April 2nd. Piper Sandler restated a “neutral” rating and issued a $19.00 target price (down previously from $23.00) on shares of Financial Institutions in a report on Monday, March 25th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Financial Institutions presently has an average rating of “Hold” and an average price target of $20.67.

About Financial Institutions

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