GAMMA Investing LLC Increases Position in Financial Institutions, Inc. (NASDAQ:FISI)

GAMMA Investing LLC boosted its position in Financial Institutions, Inc. (NASDAQ:FISI) by 6,068.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,051 shares of the bank’s stock after purchasing an additional 14,807 shares during the period. GAMMA Investing LLC’s holdings in Financial Institutions were worth $376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management increased its stake in Financial Institutions by 45.5% in the fourth quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank’s stock valued at $32,000 after purchasing an additional 374 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Financial Institutions during the 4th quarter valued at $87,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Financial Institutions by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,716 shares of the bank’s stock valued at $238,000 after purchasing an additional 380 shares during the period. Wells Fargo & Company MN lifted its position in Financial Institutions by 14.3% during the 4th quarter. Wells Fargo & Company MN now owns 9,130 shares of the bank’s stock worth $249,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Gator Capital Management LLC acquired a new position in shares of Financial Institutions during the fourth quarter worth $273,000. Institutional investors and hedge funds own 60.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FISI. Stephens reissued an “equal weight” rating and set a $32.00 price target on shares of Financial Institutions in a research report on Tuesday, March 11th. Wall Street Zen downgraded Financial Institutions from a “buy” rating to a “hold” rating in a research note on Saturday.

Financial Institutions Price Performance

FISI opened at $24.60 on Friday. Financial Institutions, Inc. has a 12-month low of $17.27 and a 12-month high of $29.79. The firm has a market capitalization of $494.71 million, a P/E ratio of -32.80 and a beta of 0.72. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average of $25.22 and a 200-day moving average of $26.12.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Monday, April 28th. The bank reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. Financial Institutions had a positive return on equity of 12.69% and a negative net margin of 2.63%. The firm had revenue of $57.24 million for the quarter, compared to the consensus estimate of $57.14 million. Equities analysts forecast that Financial Institutions, Inc. will post 3.3 EPS for the current fiscal year.

Financial Institutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 13th will be given a $0.31 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 5.04%. Financial Institutions’s dividend payout ratio is -165.33%.

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.