Vanguard Group Inc. Purchases 4,180 Shares of Financial Institutions, Inc. (NASDAQ:FISI)

Vanguard Group Inc. increased its position in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 707,588 shares of the bank’s stock after purchasing an additional 4,180 shares during the period. Vanguard Group Inc. owned about 4.42% of Financial Institutions worth $20,626,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in Financial Institutions by 183.6% in the second quarter. Acadian Asset Management LLC now owns 35,802 shares of the bank’s stock valued at $1,043,000 after acquiring an additional 23,176 shares during the period. Northern Trust Corp grew its position in Financial Institutions by 2.2% in the second quarter. Northern Trust Corp now owns 308,738 shares of the bank’s stock valued at $9,000,000 after acquiring an additional 6,631 shares during the period. Prudential Financial Inc. grew its position in Financial Institutions by 5.3% in the second quarter. Prudential Financial Inc. now owns 309,220 shares of the bank’s stock valued at $9,014,000 after acquiring an additional 15,433 shares during the period. Hillsdale Investment Management Inc. grew its position in Financial Institutions by 14.1% in the second quarter. Hillsdale Investment Management Inc. now owns 69,439 shares of the bank’s stock valued at $2,025,000 after acquiring an additional 8,600 shares during the period. Finally, GSA Capital Partners LLP grew its position in Financial Institutions by 28.9% in the second quarter. GSA Capital Partners LLP now owns 10,384 shares of the bank’s stock valued at $303,000 after acquiring an additional 2,330 shares during the period. Institutional investors and hedge funds own 71.41% of the company’s stock.

A number of analysts have weighed in on the company. ValuEngine cut Financial Institutions from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. BidaskClub raised Financial Institutions from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Zacks Investment Research raised Financial Institutions from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Monday, August 12th.

Shares of FISI traded down $0.20 during trading hours on Friday, hitting $32.20. 15,200 shares of the stock traded hands, compared to its average volume of 33,640. The business has a fifty day moving average of $30.58 and a 200-day moving average of $29.03. Financial Institutions, Inc. has a 1-year low of $24.49 and a 1-year high of $32.69. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $512.15 million, a PE ratio of 12.53 and a beta of 0.83.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $0.78 EPS for the quarter, beating the consensus estimate of $0.68 by $0.10. Financial Institutions had a return on equity of 11.78% and a net margin of 20.81%. The firm had revenue of $44.84 million during the quarter.

About Financial Institutions

Financial Institutions, Inc operates as the holding company for Five Star Bank that provides banking and financial services to individuals, municipalities, and businesses. It operates in two segments, Banking and Non-Banking. The company offers checking and savings account programs, including money market accounts, certificates of deposit, and sweep investments, as well as individual retirement and other qualified plan accounts.

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Institutional Ownership by Quarter for Financial Institutions (NASDAQ:FISI)

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