Ameriprise Financial Inc. purchased a new stake in Financial Institutions, Inc. (NASDAQ:FISI) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,725 shares of the bank’s stock, valued at approximately $379,000. Ameriprise Financial Inc. owned approximately 0.09% of Financial Institutions at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Financial Institutions by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 890,069 shares of the bank’s stock valued at $29,328,000 after purchasing an additional 55,144 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Financial Institutions by 10.1% in the first quarter. Vanguard Group Inc. now owns 584,353 shares of the bank’s stock valued at $19,255,000 after purchasing an additional 53,552 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Financial Institutions by 3.0% in the second quarter. JPMorgan Chase & Co. now owns 519,523 shares of the bank’s stock valued at $15,481,000 after purchasing an additional 15,283 shares in the last quarter. FMR LLC lifted its holdings 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 purchasing an additional 2,000 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Financial Institutions by 7.4% in the second quarter. Prudential Financial Inc. now owns 254,722 shares of the bank’s stock valued at $7,590,000 after purchasing an additional 17,600 shares in the last quarter. Institutional investors own 65.81% of the company’s stock.
A number of analysts have recently commented on the company. ValuEngine lowered Financial Institutions from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 target price on shares of Financial Institutions in a report on Thursday, October 26th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $31.50 target price on shares of Financial Institutions in a report on Wednesday, October 4th.
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Shares of Financial Institutions, Inc. (NASDAQ FISI) opened at $30.55 on Wednesday. Financial Institutions, Inc. has a twelve month low of $25.65 and a twelve month high of $35.40. The stock has a market capitalization of $475.04, a PE ratio of 15.12 and a beta of 1.26. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11.
Financial Institutions (NASDAQ:FISI) last released its earnings results on Tuesday, October 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $37.01 million for the quarter. analysts expect that Financial Institutions, Inc. will post 1.94 EPS for the current fiscal year.
Financial Institutions Company 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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