Gator Capital Management LLC Purchases Shares of 10,000 Financial Institutions, Inc. (NASDAQ:FISI)

Gator Capital Management LLC acquired a new position in shares of Financial Institutions, Inc. (NASDAQ:FISI) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,000 shares of the bank’s stock, valued at approximately $273,000. Gator Capital Management LLC owned approximately 0.06% of Financial Institutions at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd purchased a new stake in Financial Institutions during the fourth quarter valued at $30,000. Picton Mahoney Asset Management increased its holdings in shares of Financial Institutions by 45.5% in the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank’s stock worth $32,000 after buying an additional 374 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Financial Institutions by 14.9% during the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock valued at $202,000 after buying an additional 964 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Financial Institutions in the 3rd quarter valued at about $224,000. Finally, Wells Fargo & Company MN increased its stake in Financial Institutions by 14.3% during the fourth 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 during the last quarter. 60.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Financial Institutions Price Performance

FISI opened at $22.12 on Friday. The business has a fifty day moving average of $26.87 and a 200 day moving average of $26.53. The stock has a market cap of $444.13 million, a P/E ratio of -15.26 and a beta of 0.86. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. Financial Institutions, Inc. has a 52-week low of $16.29 and a 52-week high of $29.79.

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

Financial Institutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 14th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 5.61%. The ex-dividend date was Friday, March 14th. This is an increase from Financial Institutions’s previous quarterly dividend of $0.30. Financial Institutions’s payout ratio is currently -85.52%.

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.