California Public Employees Retirement System raised its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 7.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,500 shares of the bank’s stock after buying an additional 2,600 shares during the period. California Public Employees Retirement System owned about 0.25% of Financial Institutions worth $1,088,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in FISI. Parametric Portfolio Associates LLC raised its holdings in Financial Institutions by 7.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 28,909 shares of the bank’s stock worth $953,000 after purchasing an additional 1,945 shares in the last quarter. American International Group Inc. raised its holdings in Financial Institutions by 1.1% in the 1st quarter. American International Group Inc. now owns 8,060 shares of the bank’s stock worth $266,000 after purchasing an additional 85 shares in the last quarter. FMR LLC raised its holdings in Financial Institutions by 0.6% in the 1st quarter. FMR LLC now owns 365,500 shares of the bank’s stock worth $12,044,000 after purchasing an additional 2,000 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Financial Institutions by 24.6% in the 1st quarter. TIAA CREF Investment Management LLC now owns 57,852 shares of the bank’s stock worth $1,906,000 after purchasing an additional 11,409 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Financial Institutions by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 584,353 shares of the bank’s stock worth $19,255,000 after purchasing an additional 53,552 shares in the last quarter. 65.35% of the stock is owned by institutional investors and hedge funds.
Financial Institutions, Inc. (NASDAQ:FISI) opened at $30.10 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.74. The stock has a market cap of $470.34, a PE ratio of 14.98 and a beta of 1.26. Financial Institutions, Inc. has a 12 month low of $25.65 and a 12 month high of $35.40.
Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The company had revenue of $37.01 million during the quarter. Financial Institutions had a net margin of 19.46% and a return on equity of 9.66%. analysts anticipate that Financial Institutions, Inc. will post 1.94 earnings per share for the current year.
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FISI has been the subject of several research reports. Piper Jaffray Companies restated a “hold” rating and issued a $31.50 price objective on shares of Financial Institutions in a report on Thursday, August 3rd. ValuEngine lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $33.00 price target on shares of Financial Institutions in a research note on Friday, September 22nd.
About Financial Institutions
Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.
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