10 Stocks With The Most Insider Purchases In The Last Quarter

3. Financial Institutions, Inc. (NASDAQ:FISI)

Number of insider purchases in the last quarter: 15

Market capitalization: $520.8 million

The third among the 10 stocks with the highest number of insider purchases in the last quarter is the parent company of Five Star Bank, Financial Institutions. The Warsaw, New York-headquartered firm provides banking and financial services to individuals and businesses in the Empire State.

The bank offers a range of deposit accounts, loans, and insurance products, including mortgages, personal and commercial loans, auto and home insurance, and retirement plans. Additionally, the company provides wealth management, and investment advisory services, and operates a real estate investment trust.

Over the last three months of 2024, 15 insiders, among which are the company’s CEO, CFO, and CRO acquired a total of $735,000 worth of Financial Institution’s shares at a price of $25.0 per share. Insiders bought these shares on December 13 as part of the company’s underwritten public offering of 4 million shares.

Recently, the company announced that its board of directors approved a quarterly cash dividend of $0.31 per outstanding common share, an increase of $0.01, or 3.3%, from the most recent quarter. Financial Institutions is also among the 10 small-cap dividend stocks that drive year-to-date gains.

For the full year of 2024, the company disclosed a net loss of $24.5 million, compared to net income of $50.3 million in 2023. After preferred dividends, net loss available to common shareholders was $26.0 million, or ($1.66) per diluted share, for 2024 compared to net income available to common shareholders of $48.8 million, or $3.15 per diluted share, in 2023. Provision for credit losses was $6.2 million in 2024 and $13.7 million in 2023.

Year-to-date, the stock dropped 4.95% and is now trading at $25.94. Nonetheless, over the past 12 months, Financial Institutions returned 40.6%.

According to the three analysts, Financial Institutions is a “Moderate Buy,” writes MarketBeat. The analysts have given the stock a 12-month price target of $33.33.