Renaissance Technologies LLC Trims Stock Holdings in Financial Institutions, Inc. (NASDAQ:FISI)

Renaissance Technologies LLC trimmed its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 437,100 shares of the bank’s stock after selling 5,200 shares during the period. Renaissance Technologies LLC owned approximately 2.73% of Financial Institutions worth $12,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FISI. BNP Paribas Arbitrage SA grew its stake in Financial Institutions by 382.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,206 shares of the bank’s stock valued at $87,000 after buying an additional 2,541 shares in the last quarter. SG Americas Securities LLC purchased a new position in Financial Institutions in the 1st quarter valued at approximately $119,000. Cutler Capital Management LLC purchased a new position in shares of Financial Institutions during the 2nd quarter valued at $175,000. Panagora Asset Management Inc. grew its position in shares of Financial Institutions by 412.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 7,751 shares of the bank’s stock valued at $226,000 after purchasing an additional 6,238 shares in the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in shares of Financial Institutions during the 2nd quarter valued at $279,000. Institutional investors and hedge funds own 71.22% of the company’s stock.

A number of research analysts have recently commented on FISI shares. ValuEngine upgraded shares of Financial Institutions from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. BidaskClub upgraded shares of Financial Institutions from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded shares of Financial Institutions from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Monday, August 12th.

Shares of FISI traded down $0.27 during mid-day trading on Friday, reaching $30.78. 60,886 shares of the stock traded hands, compared to its average volume of 32,612. The firm has a fifty day moving average price of $29.49 and a 200 day moving average price of $28.45. The company has a market cap of $499.67 million, a price-to-earnings ratio of 11.74 and a beta of 0.86. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. Financial Institutions, Inc. has a 1 year low of $24.49 and a 1 year high of $32.80.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Monday, July 29th. The bank reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The firm had revenue of $41.70 million during the quarter, compared to analyst estimates of $41.30 million. Financial Institutions had a net margin of 20.30% and a return on equity of 11.32%.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Friday, September 13th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.25%. Financial Institutions’s dividend payout ratio (DPR) is currently 38.91%.

Financial Institutions Company Profile

Financial Institutions, Inc operates as the holding company for Five Star Bank that provides banking and financial services to individuals, municipalities, and businesses. It operates in two segments, Banking and Non-Banking. The company offers checking and savings account programs, including money market accounts, certificates of deposit, and sweep investments, as well as individual retirement and other qualified plan accounts.

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Institutional Ownership by Quarter for Financial Institutions (NASDAQ:FISI)

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