Parametric Portfolio Associates LLC Increases Holdings in Financial Institutions, Inc. (NASDAQ:FISI)

Parametric Portfolio Associates LLC increased its holdings in Financial Institutions, Inc. (NASDAQ:FISI) by 3.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 63,141 shares of the bank’s stock after purchasing an additional 2,088 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Financial Institutions were worth $1,841,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Swiss National Bank raised its stake in Financial Institutions by 2.5% in the second quarter. Swiss National Bank now owns 28,200 shares of the bank’s stock worth $822,000 after buying an additional 700 shares in the last quarter. GSA Capital Partners LLP raised its stake in Financial Institutions by 28.9% in the second quarter. GSA Capital Partners LLP now owns 10,384 shares of the bank’s stock worth $303,000 after buying an additional 2,330 shares in the last quarter. Virginia Retirement Systems ET AL raised its stake in Financial Institutions by 16.5% in the second quarter. Virginia Retirement Systems ET AL now owns 18,400 shares of the bank’s stock worth $536,000 after buying an additional 2,600 shares in the last quarter. First Quadrant L P CA raised its stake in Financial Institutions by 34.8% in the second quarter. First Quadrant L P CA now owns 10,808 shares of the bank’s stock worth $315,000 after buying an additional 2,791 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Financial Institutions in the first quarter worth approximately $119,000. 71.22% of the stock is owned by institutional investors.

A number of equities analysts have recently issued reports on FISI shares. BidaskClub downgraded Financial Institutions from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Zacks Investment Research raised Financial Institutions from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Monday, August 12th. Finally, ValuEngine downgraded Financial Institutions from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd.

Shares of FISI stock opened at $29.16 on Wednesday. The business’s fifty day simple moving average is $29.80 and its 200-day simple moving average is $28.53. The company has a market cap of $466.41 million, a PE ratio of 11.35 and a beta of 0.85. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. Financial Institutions, Inc. has a 12-month low of $24.49 and a 12-month high of $31.82.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Monday, July 29th. The bank reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The business had revenue of $41.70 million for the quarter, compared to the consensus estimate of $41.30 million. Financial Institutions had a return on equity of 11.32% and a net margin of 20.30%.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Friday, September 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Thursday, September 12th. Financial Institutions’s payout ratio is presently 38.91%.

Financial Institutions Company 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.

Further Reading: What is the Fibonacci sequence?

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).

Institutional Ownership by Quarter for Financial Institutions (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.