Northern Trust Corp Has $5.35 Million Position in Financial Institutions, Inc. (NASDAQ:FISI)

Northern Trust Corp increased its holdings in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 195,861 shares of the bank’s stock after acquiring an additional 6,637 shares during the quarter. Northern Trust Corp owned about 1.27% of Financial Institutions worth $5,345,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Boothbay Fund Management LLC bought a new stake in shares of Financial Institutions during the 4th quarter valued at $2,456,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Financial Institutions during the 4th quarter valued at $11,168,000. Mendon Capital Advisors Corp bought a new stake in shares of Financial Institutions during the 4th quarter valued at $2,729,000. Curi RMB Capital LLC bought a new stake in shares of Financial Institutions during the 4th quarter valued at $2,429,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Financial Institutions by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 971,659 shares of the bank’s stock worth $26,516,000 after buying an additional 14,733 shares during the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FISI has been the subject of several recent analyst reports. StockNews.com upgraded Financial Institutions from a “sell” rating to a “hold” rating in a research report on Thursday, May 8th. Keefe, Bruyette & Woods upgraded Financial Institutions from a “market perform” rating to an “outperform” rating and increased their target price for the company from $29.00 to $34.00 in a research report on Monday, February 3rd. Finally, Stephens reiterated an “equal weight” rating and issued a $32.00 target price on shares of Financial Institutions in a research report on Tuesday, March 11th.

Financial Institutions Trading Down 0.8%

Shares of FISI stock opened at $26.81 on Wednesday. The stock has a market cap of $539.15 million, a price-to-earnings ratio of -18.49 and a beta of 0.70. The stock has a 50-day moving average of $24.66 and a 200-day moving average of $26.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. Financial Institutions, Inc. has a 1-year low of $16.81 and a 1-year high of $29.79.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Monday, April 28th. The bank reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.07. The company had revenue of $57.24 million during the quarter, compared to analysts’ expectations of $57.14 million. Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. On average, equities research analysts forecast that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.

Financial Institutions Profile

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.