Context BH Capital Management LP Increases Holdings in Financial Institutions, Inc. (FISI)
Context BH Capital Management LP raised its holdings in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 67.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,458 shares of the bank’s stock after purchasing an additional 19,080 shares during the quarter. Context BH Capital Management LP owned approximately 0.30% of Financial Institutions worth $1,367,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Prudential Financial Inc. lifted its holdings in Financial Institutions by 2.6% during the 3rd quarter. Prudential Financial Inc. now owns 261,412 shares of the bank’s stock valued at $7,529,000 after purchasing an additional 6,690 shares during the last quarter. IndexIQ Advisors LLC lifted its holdings in Financial Institutions by 83.2% during the 3rd quarter. IndexIQ Advisors LLC now owns 26,306 shares of the bank’s stock valued at $758,000 after purchasing an additional 11,946 shares during the last quarter. American Century Companies Inc. acquired a new stake in Financial Institutions during the 3rd quarter valued at $324,000. Foundry Partners LLC lifted its holdings in shares of Financial Institutions by 8.1% during the third quarter. Foundry Partners LLC now owns 157,315 shares of the bank’s stock worth $4,531,000 after buying an additional 11,800 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Financial Institutions by 16.0% during the third quarter. Victory Capital Management Inc. now owns 57,300 shares of the bank’s stock worth $1,650,000 after buying an additional 7,920 shares in the last quarter. 65.81% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the company. Piper Jaffray Companies reissued a “hold” rating and set a $31.50 target price on shares of Financial Institutions in a report on Wednesday, October 4th. ValuEngine raised Financial Institutions from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $33.00 target price on shares of Financial Institutions in a report on Thursday, October 26th.
Financial Institutions, Inc. (NASDAQ FISI) traded down $0.05 on Monday, hitting $30.10. The stock had a trading volume of 89,300 shares, compared to its average volume of 60,857. Financial Institutions, Inc. has a 12 month low of $25.65 and a 12 month high of $35.40. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $470.35, a P/E ratio of 14.98 and a beta of 1.26.
Financial Institutions (NASDAQ:FISI) last posted its earnings results on Tuesday, October 24th. The bank reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. Financial Institutions had a return on equity of 9.66% and a net margin of 19.46%. The company had revenue of $37.01 million during the quarter. sell-side analysts expect that Financial Institutions, Inc. will post 1.94 EPS for the current year.
Financial Institutions Profile
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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