Emerald Acquisition Ltd. purchased a new stake in Financial Institutions Inc. (NASDAQ:FISI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 39,027 shares of the company’s stock, valued at approximately $1,017,000. Emerald Acquisition Ltd. owned 0.27% of Financial Institutions as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. RMB Capital Management LLC raised its position in shares of Financial Institutions by 55.3% in the second quarter. RMB Capital Management LLC now owns 99,124 shares of the company’s stock valued at $2,584,000 after buying an additional 35,300 shares during the period. Swiss National Bank purchased a new stake in Financial Institutions during the second quarter valued at about $495,000. IFC Holdings Incorporated FL increased its stake in Financial Institutions by 0.7% in the second quarter. IFC Holdings Incorporated FL now owns 9,150 shares of the company’s stock valued at $234,000 after buying an additional 62 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Financial Institutions by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 91,804 shares of the company’s stock valued at $2,393,000 after buying an additional 4,018 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its stake in Financial Institutions by 4.5% in the second quarter. ClariVest Asset Management LLC now owns 11,700 shares of the company’s stock valued at $305,000 after buying an additional 500 shares in the last quarter. Institutional investors own 59.30% of the company’s stock.
Financial Institutions Inc. (NASDAQ:FISI) traded up 0.15% during mid-day trading on Monday, hitting $26.90. 3,665 shares of the company traded hands. Financial Institutions Inc. has a one year low of $24.56 and a one year high of $29.53. The company’s 50-day moving average is $26.84 and its 200-day moving average is $27.22. The stock has a market capitalization of $388.81 million, a price-to-earnings ratio of 13.65 and a beta of 1.05.
Financial Institutions (NASDAQ:FISI) last issued its earnings results on Tuesday, July 26th. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Financial Institutions had a net margin of 20.63% and a return on equity of 10.28%. Analysts predict that Financial Institutions Inc. will post $1.93 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.98%. The ex-dividend date was Thursday, September 8th. Financial Institutions’s payout ratio is presently 40.61%.
Separately, Keefe, Bruyette & Woods upped their price objective on shares of Financial Institutions from $26.00 to $27.00 and gave the stock a “market perform” rating in a report on Thursday, July 28th.
In related news, CEO Martin Kearney Birmingham purchased 5,000 shares of Financial Institutions stock in a transaction dated Wednesday, August 17th. The stock was bought at an average price of $26.64 per share, for a total transaction of $133,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 85,632 shares of the company’s stock, valued at $2,281,236.48. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Andrew W. Dorn, Jr. purchased 1,000 shares of Financial Institutions stock in a transaction dated Friday, July 29th. The stock was bought at an average price of $27.11 per share, with a total value of $27,110.00. Following the acquisition, the director now directly owns 12,205 shares of the company’s stock, valued at $330,877.55. The disclosure for this purchase can be found here. 6.23% of the stock is currently owned by insiders.
About Financial Institutions
Financial Institutions, Inc (FII) is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank, and Scott Danahy Naylon, LLC (SDN), a full service insurance agency. The Company offers an array of deposit, lending, insurance services and other financial services to individuals, municipalities and businesses in Western and Central New York through the Bank.
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