Financial Institutions, Inc. (NASDAQ:FISI – Get Rating) CEO Martin Kearney Birmingham bought 1,000 shares in a trade on Friday, November 4. The shares were purchased at an average price of $23.43 per share, for a total transaction of $23,430.00. As a result of the transaction, the CEO now directly owns 101,800 shares of the company, valued at $2,385,174. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
Inventory of financial institutions up 1.2%
Shares of financial institutions rose $0.29 during Monday trading hours, hitting $24.25. 36,803 shares of the stock have been traded, compared to its average volume of 45,260. The company’s 50-day moving average price is $25.03 and its two-hundred-day moving average price is 26 $.27. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt ratio of 0.18. The company has a market capitalization of $371.85 million, a PE ratio of 5.98 and a beta of 0.90. Financial Institutions, Inc. has a one-year low of $22.91 and a one-year high of $34.43.
Financial institutions announce a dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3. Shareholders of record on Friday, September 16 received a dividend of $0.29 per share. The ex-dividend date was Thursday, September 15. This represents an annualized dividend of $1.16 and a yield of 4.78%. The payout rate for financial institutions is 28.93%.
Institutional negotiation of financial institutions
Several large investors have recently bought and sold shares of FISI. State Street Corp increased its holdings of financial institution stocks by 30.6% in the first quarter. State Street Corp now owns 494,212 shares of the bank valued at $15,002,000 after buying an additional 115,703 shares in the last quarter. PL Capital Advisors LLC increased its holdings of financial institution stocks by 104.2% during the third quarter. PL Capital Advisors LLC now owns 125,000 shares of the bank valued at $2,407,000 after buying an additional 63,800 shares in the last quarter. Millennium Management LLC increased its holdings in financial institutions by 146.5% in the second quarter. Millennium Management LLC now owns 96,625 shares of the bank worth $2,514,000 after acquiring an additional 57,422 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in financial institutions by 107.4% in the second quarter. Goldman Sachs Group Inc. now owns 90,990 shares of the bank worth $2,367,000 after acquiring 47,117 additional shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Financial Institutions by 2.6% in the 1st quarter. BlackRock Inc. now owns 1,199,589 shares of the bank worth $36,145,000 after acquiring 30,179 additional shares in the last quarter. 68.54% of the shares are held by institutional investors.
Changes to analyst ratings
A number of research analysts have recently published reports on FISI shares. Hovde Group upgraded financial institutions from an “outperforming” rating to a “market performing” rating and reduced its price target for the company from $33.00 to $29.00 in a note. research on Monday, October 31. StockNews.com upgraded financial institutions from a “buy” to a “hold” rating in a Tuesday, Nov. 1 research note.
About financial institutions
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Financial Institutions, Inc. operates as a holding company for Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York City. The Company offers checking and savings account programs, including money market accounts, certificates of deposit, sweeping investment and individual retirement accounts and other qualified plan accounts.
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