Wedge Capital Management L L P NC lifted its stake in Financial Institutions, Inc. (NASDAQ:FISI) by 6.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,676 shares of the bank’s stock after buying an additional 3,411 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.34% of Financial Institutions worth $1,620,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of FISI. Russell Investments Group Ltd. boosted its holdings in Financial Institutions by 114.8% in the third quarter. Russell Investments Group Ltd. now owns 4,707 shares of the bank’s stock valued at $142,000 after purchasing an additional 2,516 shares during the period. California Public Employees Retirement System lifted its holdings in Financial Institutions by 12.3% during the 3rd quarter. California Public Employees Retirement System now owns 42,311 shares of the bank’s stock worth $1,277,000 after buying an additional 4,651 shares during the last quarter. Rhumbline Advisers lifted its holdings in Financial Institutions by 7.6% during the 3rd quarter. Rhumbline Advisers now owns 26,655 shares of the bank’s stock worth $804,000 after buying an additional 1,891 shares during the last quarter. Foundry Partners LLC lifted its holdings in Financial Institutions by 1.2% during the 3rd quarter. Foundry Partners LLC now owns 174,640 shares of the bank’s stock worth $5,271,000 after buying an additional 2,120 shares during the last quarter. Finally, Bowling Portfolio Management LLC purchased a new stake in Financial Institutions during the 3rd quarter worth about $1,071,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.
FISI opened at $32.40 on Friday. The business’s 50-day simple moving average is $30.56 and its 200-day simple moving average is $29.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. Financial Institutions, Inc. has a one year low of $24.49 and a one year high of $32.69. The stock has a market capitalization of $512.15 million, a P/E ratio of 12.61 and a beta of 0.83.
Financial Institutions (NASDAQ:FISI) last posted its earnings results on Tuesday, October 29th. The bank reported $0.78 EPS for the quarter, topping the Zacks’ 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 business had revenue of $44.84 million for the quarter.
FISI has been the subject of a number of recent analyst reports. Zacks Investment Research raised Financial Institutions from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Monday, August 12th. ValuEngine cut Financial Institutions from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub upgraded Financial Institutions from a “hold” rating to a “buy” rating in a research report on Friday.
Financial Institutions Profile
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.
Featured Article: Earnings Reports
Want to see what other hedge funds are holding FISI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Financial Institutions, Inc. (NASDAQ:FISI).
Receive News & Ratings for Financial Institutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Financial Institutions and related companies with MarketBeat.com's FREE daily email newsletter.