California Public Employees Retirement System raised its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 10.8% during the first quarter, Holdings Channel reports. The fund owned 33,900 shares of the bank’s stock after buying an additional 3,300 shares during the period. California Public Employees Retirement System’s holdings in Financial Institutions were worth $1,117,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. TIAA CREF Investment Management LLC increased its position in shares of Financial Institutions by 24.6% in the first quarter. TIAA CREF Investment Management LLC now owns 57,852 shares of the bank’s stock valued at $1,906,000 after buying an additional 11,409 shares during the last quarter. Systematic Financial Management LP acquired a new position in shares of Financial Institutions during the first quarter valued at about $1,252,000. FMR LLC increased its position in shares of Financial Institutions by 0.6% in the first quarter. FMR LLC now owns 365,500 shares of the bank’s stock valued at $12,044,000 after buying an additional 2,000 shares during the last quarter. ClariVest Asset Management LLC increased its position in shares of Financial Institutions by 30.8% in the first quarter. ClariVest Asset Management LLC now owns 88,914 shares of the bank’s stock valued at $2,929,000 after buying an additional 20,914 shares during the last quarter. Finally, Spark Investment Management LLC increased its position in shares of Financial Institutions by 64.8% in the first quarter. Spark Investment Management LLC now owns 15,000 shares of the bank’s stock valued at $494,000 after buying an additional 5,900 shares during the last quarter. Hedge funds and other institutional investors own 61.13% of the company’s stock.

Financial Institutions, Inc. (FISI) traded down 0.18% during midday trading on Friday, hitting $27.35. The stock had a trading volume of 5,471 shares. The company’s 50-day moving average price is $29.52 and its 200 day moving average price is $31.86. Financial Institutions, Inc. has a 52 week low of $25.98 and a 52 week high of $35.40. The company has a market capitalization of $410.20 million, a PE ratio of 13.35 and a beta of 1.19.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.08. Financial Institutions had a net margin of 20.08% and a return on equity of 10.03%. The firm had revenue of $36.76 million for the quarter. On average, analysts expect that Financial Institutions, Inc. will post $1.96 EPS for the current year.

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Several equities analysts have issued reports on the company. Piper Jaffray Companies reiterated a “hold” rating and issued a $31.50 price objective on shares of Financial Institutions in a research report on Thursday, August 3rd. ValuEngine upgraded Financial Institutions from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $33.00 price objective on shares of Financial Institutions in a research report on Wednesday, April 26th.

About Financial Institutions

Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.

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

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