Palisades Investment Partners LLC Acquires 11,752 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

Palisades Investment Partners LLC raised its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 9.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 138,527 shares of the bank's stock after purchasing an additional 11,752 shares during the period. Financial Institutions makes up approximately 1.6% of Palisades Investment Partners LLC's portfolio, making the stock its 23rd biggest holding. Palisades Investment Partners LLC owned about 0.90% of Financial Institutions worth $3,780,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of Financial Institutions during the 4th quarter worth approximately $30,000. Picton Mahoney Asset Management lifted its position in shares of Financial Institutions by 45.5% during the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock worth $32,000 after buying an additional 374 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Financial Institutions during the 4th quarter worth approximately $87,000. SG Americas Securities LLC lifted its position in shares of 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Financial Institutions by 4.6% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 60.45% of the company's stock.

Financial Institutions Stock Performance

Shares of NASDAQ:FISI traded up $0.50 during mid-day trading on Tuesday, reaching $25.88. The company had a trading volume of 23,691 shares, compared to its average volume of 104,458. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a market cap of $520.35 million, a price-to-earnings ratio of -17.85 and a beta of 0.70. The company's 50-day moving average price is $24.64 and its 200-day moving average price is $26.33. Financial Institutions, Inc. has a one year low of $16.81 and a one year high of $29.79.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Financial Institutions from a "buy" rating to a "hold" rating in a report on Saturday. Stephens reaffirmed an "equal weight" rating and issued a $32.00 price target on shares of Financial Institutions in a report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods raised shares of Financial Institutions from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $29.00 to $34.00 in a report on Monday, February 3rd.

Financial Institutions Company 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.