Short Interest in Financial Institutions, Inc. (NASDAQ:FISI) Drops By 8.7%

Financial Institutions, Inc. (NASDAQ:FISI) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 63,100 shares, a decline of 8.7% from the October 15th total of 69,100 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average trading volume of 40,100 shares, the short-interest ratio is currently 1.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Financial Institutions by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 354,685 shares of the bank’s stock valued at $9,036,000 after acquiring an additional 7,045 shares in the last quarter. Barclays PLC lifted its stake in shares of Financial Institutions by 48.4% during the third quarter. Barclays PLC now owns 44,798 shares of the bank’s stock worth $1,141,000 after purchasing an additional 14,606 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Financial Institutions in the third quarter worth about $224,000. Zacks Investment Management acquired a new stake in shares of Financial Institutions in the third quarter valued at about $4,706,000. Finally, State Street Corp lifted its position in Financial Institutions by 6.5% during the 3rd quarter. State Street Corp now owns 283,707 shares of the bank’s stock worth $7,309,000 after acquiring an additional 17,395 shares in the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. StockNews.com lowered Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $25.00 target price (up from $20.00) on shares of Financial Institutions in a research report on Monday, July 29th.

Financial Institutions Trading Down 1.1 %

Shares of FISI stock traded down $0.29 on Monday, reaching $26.54. 35,021 shares of the stock were exchanged, compared to its average volume of 50,110. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The stock has a market cap of $410.57 million, a P/E ratio of 8.44 and a beta of 0.90. The firm has a 50 day moving average of $25.49 and a two-hundred day moving average of $22.49. Financial Institutions has a 1-year low of $16.29 and a 1-year high of $28.12.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. The company had revenue of $50.12 million for the quarter. During the same quarter last year, the business earned $0.88 earnings per share. On average, research analysts anticipate that Financial Institutions will post 3.6 EPS for the current year.

About Financial Institutions

Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.