Goldman Sachs Group Inc. boosted its stake in Financial Institutions, Inc. (NASDAQ:FISI) by 68.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,955 shares of the bank’s stock after buying an additional 12,566 shares during the period. Goldman Sachs Group Inc.’s holdings in Financial Institutions were worth $1,020,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFC Holdings Incorporated FL raised its position in Financial Institutions by 0.6% in the first quarter. IFC Holdings Incorporated FL now owns 9,347 shares of the bank’s stock valued at $308,000 after buying an additional 57 shares during the period. American International Group Inc. raised its position in Financial Institutions by 1.1% in the first quarter. American International Group Inc. now owns 8,060 shares of the bank’s stock valued at $266,000 after buying an additional 85 shares during the period. TFS Capital LLC raised its position in Financial Institutions by 13.4% in the first quarter. TFS Capital LLC now owns 8,990 shares of the bank’s stock valued at $296,000 after buying an additional 1,063 shares during the period. Acrospire Investment Management LLC raised its position in Financial Institutions by 39.6% in the first quarter. Acrospire Investment Management LLC now owns 4,715 shares of the bank’s stock valued at $155,000 after buying an additional 1,338 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in Financial Institutions by 7.2% in the first quarter. Parametric Portfolio Associates LLC now owns 28,909 shares of the bank’s stock valued at $953,000 after buying an additional 1,945 shares during the period. 61.13% of the stock is currently owned by institutional investors.

Financial Institutions, Inc. (FISI) traded down 2.37% on Friday, hitting $26.75. The stock had a trading volume of 42,704 shares. The company has a market cap of $401.20 million, a price-to-earnings ratio of 13.06 and a beta of 1.19. Financial Institutions, Inc. has a 12-month low of $25.98 and a 12-month high of $35.40. The company’s 50 day moving average price is $29.44 and its 200-day moving average price is $31.82.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the 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. Equities research analysts anticipate that Financial Institutions, Inc. will post $1.96 EPS for the current year.

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Several research firms have commented on FISI. Piper Jaffray Companies reaffirmed a “hold” rating and set a $31.50 price target on shares of Financial Institutions in a research report on Thursday, August 3rd. ValuEngine raised Financial Institutions from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $33.00 price target 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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