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

Palisades Investment Partners LLC boosted its stake in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,527 shares of the bank's stock after buying an additional 11,752 shares during the quarter. Financial Institutions makes up approximately 1.6% of Palisades Investment Partners LLC's portfolio, making the stock its 23rd largest holding. Palisades Investment Partners LLC owned approximately 0.90% of Financial Institutions worth $3,780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new position in Financial Institutions in the 4th quarter valued at about $388,000. Two Sigma Advisers LP lifted its stake in Financial Institutions by 2.5% in the 4th quarter. Two Sigma Advisers LP now owns 78,787 shares of the bank's stock valued at $2,150,000 after buying an additional 1,900 shares in the last quarter. Two Sigma Investments LP lifted its stake in Financial Institutions by 78.6% in the 4th quarter. Two Sigma Investments LP now owns 88,622 shares of the bank's stock valued at $2,418,000 after buying an additional 39,007 shares in the last quarter. Millennium Management LLC purchased a new position in Financial Institutions in the 4th quarter valued at about $720,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Financial Institutions by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,716 shares of the bank's stock valued at $238,000 after buying an additional 380 shares in the last quarter. 60.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FISI has been the topic of a number of research reports. Wall Street Zen lowered shares of Financial Institutions from a "buy" rating to a "hold" rating in a research note on Saturday. Stephens reissued an "equal weight" rating and issued a $32.00 target price on shares of Financial Institutions in a research note on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods raised shares of Financial Institutions from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $29.00 to $34.00 in a research note on Monday, February 3rd.

Financial Institutions Price Performance

FISI traded down $0.20 during trading on Friday, reaching $25.38. The company's stock had a trading volume of 84,649 shares, compared to its average volume of 104,776. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $24.65 and a two-hundred day simple moving average of $26.35. Financial Institutions, Inc. has a 1 year low of $16.81 and a 1 year high of $29.79. The company has a market cap of $510.39 million, a price-to-earnings ratio of -17.50 and a beta of 0.70.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its earnings results on Monday, April 28th. The bank reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.07. The business had revenue of $57.24 million for the quarter, compared to analyst estimates of $57.14 million. Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. As a group, analysts anticipate that Financial Institutions, Inc. will post 3.3 EPS for the current year.

About Financial Institutions

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.