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

LSV Asset Management lessened its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 344,957 shares of the bank’s stock after selling 19,200 shares during the period. LSV Asset Management’s holdings in Financial Institutions were worth $7,348,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Financial Institutions by 31.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,871 shares of the bank’s stock worth $48,000 after purchasing an additional 685 shares during the period. Bank of New York Mellon Corp boosted its stake in 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 buying an additional 931 shares during the period. EMC Capital Management increased its position in Financial Institutions by 18.5% during the third quarter. EMC Capital Management now owns 6,572 shares of the bank’s stock valued at $111,000 after acquiring an additional 1,028 shares during the last quarter. CWM LLC raised its stake in shares of Financial Institutions by 193.3% in the fourth quarter. CWM LLC now owns 1,566 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,032 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Financial Institutions by 4.2% in the 3rd quarter. Victory Capital Management Inc. now owns 44,800 shares of the bank’s stock worth $754,000 after acquiring an additional 1,788 shares during the last quarter. Hedge funds and other institutional investors own 60.45% of the company’s stock.

Financial Institutions Stock Up 2.0 %

Shares of NASDAQ FISI opened at $18.15 on Thursday. The firm has a market capitalization of $280.36 million, a price-to-earnings ratio of 7.23 and a beta of 0.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.84. Financial Institutions, Inc. has a 52-week low of $15.22 and a 52-week high of $23.11. The stock has a 50 day moving average price of $17.96 and a 200 day moving average price of $18.82.

Financial Institutions Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FISI. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $23.00 price target on shares of Financial Institutions in a report on Tuesday, April 2nd. Piper Sandler reiterated a “neutral” rating and issued a $19.00 price target (down from $23.00) on shares of Financial Institutions in a report on Monday, March 25th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.67.

Financial Institutions Company 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.