Financial Institutions, Inc. (NASDAQ:FISI) Shares Sold by Victory Capital Management Inc.

Posted by on Jun 3rd, 2023

Victory Capital Management Inc. decreased its position in Financial Institutions, Inc. (NASDAQ:FISI – Get Rating) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,876 shares of the bank’s stock after selling 1,824 shares during the quarter. Victory Capital Management Inc. owned about 0.30% of Financial Institutions worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in FISI. Great West Life Assurance Co. Can increased its stake in shares of Financial Institutions by 177.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 857 shares of the bank’s stock valued at $26,000 after acquiring an additional 548 shares during the last quarter. Captrust Financial Advisors increased its position in Financial Institutions by 107.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,073 shares of the bank’s stock worth $28,000 after purchasing an additional 555 shares in the last quarter. Citigroup Inc. increased its position in Financial Institutions by 189.6% during the 4th quarter. Citigroup Inc. now owns 1,758 shares of the bank’s stock worth $43,000 after purchasing an additional 1,151 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Financial Institutions by 31.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,940 shares of the bank’s stock worth $70,000 after purchasing an additional 700 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Financial Institutions by 263.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,056 shares of the bank’s stock worth $73,000 after purchasing an additional 2,216 shares in the last quarter. Institutional investors and hedge funds own 67.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FISI shares. TheStreet cut Financial Institutions from a “b-” rating to a “c+” rating in a report on Tuesday, May 2nd. StockNews.com assumed coverage on Financial Institutions in a research note on Thursday, May 18th. They set a “hold” rating for the company.

Insider Activity at Financial Institutions

In related news, Director Samuel M. Gullo bought 2,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were purchased at an average cost of $15.94 per share, with a total value of $31,880.00. Following the completion of the transaction, the director now directly owns 33,004 shares of the company’s stock, valued at $526,083.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Robert N. Latella bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was acquired at an average price of $15.06 per share, with a total value of $150,600.00. Following the completion of the purchase, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $180,720. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Samuel M. Gullo bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were purchased at an average cost of $15.94 per share, with a total value of $31,880.00. Following the purchase, the director now directly owns 33,004 shares of the company’s stock, valued at $526,083.76. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 14,500 shares of company stock valued at $222,675. Corporate insiders own 2.10% of the company’s stock.

Financial Institutions Stock Performance

FISI stock opened at $16.54 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.31. The firm has a market cap of $254.32 million, a P/E ratio of 4.88 and a beta of 0.86. Financial Institutions, Inc. has a 12-month low of $13.84 and a 12-month high of $28.46. The stock’s 50 day simple moving average is $17.33 and its 200 day simple moving average is $21.72.

Financial Institutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.26%. The ex-dividend date of this dividend is Wednesday, June 14th. Financial Institutions’s dividend payout ratio is currently 35.40%.

Financial Institutions Profile

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Financial Institutions, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Banking, Non-Banking, and Holding Company and Other. The Banking segment includes retail and commercial banking operations. The Non-Banking segment consists of the activities of SDN, a full-service insurance agency that offers insurance services to both personal and business clients, and Courier Capital, an investment advisor and wealth management firm that delivers customized investment management, investment consulting, and retirement plan services to individuals, businesses, institutions, foundations, and retirement plans.

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

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