Financial Institutions, Inc. (NASDAQ:FISI) Shares Acquired by Palisades Investment Partners LLC

Palisades Investment Partners LLC boosted its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,527 shares of the bank’s stock after purchasing an additional 11,752 shares during the quarter. Financial Institutions makes up about 1.6% of Palisades Investment Partners LLC’s investment portfolio, making the stock its 23rd largest holding. Palisades Investment Partners LLC’s holdings in Financial Institutions were worth $3,780,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Financial Institutions during the fourth quarter valued at approximately $30,000. Picton Mahoney Asset Management lifted its holdings in shares of Financial Institutions by 45.5% in the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank’s stock worth $32,000 after purchasing an additional 374 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Financial Institutions during the 4th quarter valued at approximately $87,000. SG Americas Securities LLC grew its stake in Financial Institutions by 14.9% during the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock worth $202,000 after buying an additional 964 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Financial Institutions by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,716 shares of the bank’s stock worth $238,000 after buying an additional 380 shares during the period. Institutional investors and hedge funds own 60.45% of the company’s stock.

Analyst Upgrades and Downgrades

FISI has been the topic of a number of recent research reports. Stephens reiterated an “equal weight” rating and issued a $32.00 target price on shares of Financial Institutions in a research note on Tuesday, March 11th. Keefe, Bruyette & Woods raised shares of Financial Institutions from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $29.00 to $34.00 in a report on Monday, February 3rd. Finally, StockNews.com raised shares of Financial Institutions from a “sell” rating to a “hold” rating in a research note on Thursday, May 8th.

Financial Institutions Stock Performance

Shares of FISI stock opened at $25.89 on Thursday. Financial Institutions, Inc. has a 12-month low of $16.81 and a 12-month high of $29.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $520.65 million, a price-to-earnings ratio of -17.86 and a beta of 0.70. The business has a 50 day simple moving average of $24.66 and a 200 day simple moving average of $26.34.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Monday, April 28th. The bank reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The company had revenue of $57.24 million during the quarter, compared to analyst estimates of $57.14 million. Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. On average, equities research analysts anticipate that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions 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.