Jacobs Asset Management LLC Buys New Holdings in Financial Institutions, Inc. (NASDAQ:FISI)

Jacobs Asset Management LLC bought a new position in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 151,456 shares of the bank's stock, valued at approximately $4,133,000. Financial Institutions comprises approximately 2.5% of Jacobs Asset Management LLC's investment portfolio, making the stock its 16th biggest position. Jacobs Asset Management LLC owned approximately 0.98% of Financial Institutions at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FISI. PL Capital Advisors LLC boosted its position in Financial Institutions by 666.8% during the fourth quarter. PL Capital Advisors LLC now owns 13,583,625 shares of the bank's stock worth $370,697,000 after purchasing an additional 11,812,109 shares during the period. Wellington Management Group LLP bought a new stake in Financial Institutions during the fourth quarter worth approximately $18,294,000. Adage Capital Partners GP L.L.C. bought a new stake in Financial Institutions during the fourth quarter worth approximately $11,168,000. Basswood Capital Management L.L.C. bought a new stake in Financial Institutions during the fourth quarter worth approximately $8,320,000. Finally, Fourthstone LLC boosted its position in Financial Institutions by 1,463.9% during the fourth quarter. Fourthstone LLC now owns 318,254 shares of the bank's stock worth $8,685,000 after purchasing an additional 297,904 shares during the period. Institutional investors own 60.45% of the company's stock.

Financial Institutions Stock Performance

Shares of FISI stock traded down $0.30 during trading hours on Wednesday, reaching $26.93. 87,734 shares of the company's stock were exchanged, compared to its average volume of 103,744. Financial Institutions, Inc. has a fifty-two week low of $16.81 and a fifty-two week high of $29.79. The stock has a market capitalization of $541.56 million, a P/E ratio of -18.57 and a beta of 0.70. The business has a fifty day moving average price of $24.59 and a 200-day moving average price of $26.25. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FISI shares. Keefe, Bruyette & Woods raised Financial Institutions from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $29.00 to $34.00 in a research report on Monday, February 3rd. StockNews.com upgraded Financial Institutions from a "sell" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Stephens reiterated an "equal weight" rating and set a $32.00 price target on shares of Financial Institutions in a report on Tuesday, March 11th.

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.