Segall Bryant & Hamill LLC Has $2.28 Million Stake in Financial Institutions, Inc. (NASDAQ:FISI)

Segall Bryant & Hamill LLC boosted its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 56.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,686 shares of the bank’s stock after acquiring an additional 30,130 shares during the quarter. Segall Bryant & Hamill LLC owned 0.54% of Financial Institutions worth $2,284,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Zacks Investment Management bought a new stake in shares of Financial Institutions in the 3rd quarter valued at about $4,706,000. Barclays PLC raised its stake in Financial Institutions by 48.4% in the third quarter. Barclays PLC now owns 44,798 shares of the bank’s stock valued at $1,141,000 after buying an additional 14,606 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Financial Institutions in the fourth quarter valued at approximately $318,000. PL Capital Advisors LLC boosted its stake in shares of Financial Institutions by 666.8% during the 4th quarter. PL Capital Advisors LLC now owns 13,583,625 shares of the bank’s stock worth $370,697,000 after acquiring an additional 11,812,109 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Financial Institutions by 14.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,129 shares of the bank’s stock worth $3,060,000 after acquiring an additional 14,570 shares during the last quarter. Institutional investors and hedge funds own 60.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods raised Financial Institutions from a “market perform” rating to an “outperform” rating and raised their price target for the company from $29.00 to $34.00 in a report on Monday, February 3rd. StockNews.com upgraded shares of Financial Institutions from a “sell” rating to a “hold” rating in a research note on Tuesday, February 11th. Piper Sandler initiated coverage on shares of Financial Institutions in a research note on Friday, December 20th. They issued an “overweight” rating and a $33.00 price target on the stock. Finally, Stephens reissued an “equal weight” rating and issued a $32.00 price target on shares of Financial Institutions in a report on Tuesday, March 11th.

Financial Institutions Stock Down 0.8 %

FISI stock opened at $25.56 on Friday. The business’s fifty day moving average price is $27.22 and its two-hundred day moving average price is $26.57. The stock has a market capitalization of $513.19 million, a price-to-earnings ratio of -17.63 and a beta of 0.86. Financial Institutions, Inc. has a fifty-two week low of $16.29 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.20). Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. On average, equities analysts anticipate that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 14th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.85%. This is an increase from Financial Institutions’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, March 14th. Financial Institutions’s payout ratio is presently -85.52%.

Financial Institutions Profile

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.