Financial Institutions, Inc. (NASDAQ:FISI) Short Interest Down 22.0% in November

Financial Institutions, Inc. (NASDAQ:FISI) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 49,200 shares, a drop of 22.0% from the October 31st total of 63,100 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 39,400 shares, the days-to-cover ratio is currently 1.2 days.

Financial Institutions Stock Up 0.9 %

Shares of Financial Institutions stock opened at $27.16 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. Financial Institutions has a 12-month low of $16.29 and a 12-month high of $29.14. The company has a market cap of $420.17 million, a P/E ratio of 8.54 and a beta of 0.90. The company’s fifty day simple moving average is $25.78 and its two-hundred day simple moving average is $23.11.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $50.12 million during the quarter. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. During the same quarter last year, the business earned $0.88 earnings per share. Research analysts anticipate that Financial Institutions will post 3.6 EPS for the current year.

Financial Institutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date is Friday, December 13th. Financial Institutions’s dividend payout ratio is presently 37.74%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new position in shares of Financial Institutions during the third quarter valued at approximately $513,000. Segall Bryant & Hamill LLC bought a new stake in Financial Institutions in the third quarter worth $1,364,000. AQR Capital Management LLC grew its stake in shares of Financial Institutions by 147.3% in the second quarter. AQR Capital Management LLC now owns 63,213 shares of the bank’s stock worth $1,221,000 after acquiring an additional 37,653 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Financial Institutions by 8.7% during the second quarter. Acadian Asset Management LLC now owns 324,263 shares of the bank’s stock valued at $6,263,000 after acquiring an additional 25,865 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Financial Institutions by 32.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,559 shares of the bank’s stock worth $2,485,000 after purchasing an additional 23,885 shares during the last quarter. 60.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

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.