Financial Institutions, Inc. (NASDAQ:FISI) Short Interest Down 8.7% in October

Financial Institutions, Inc. (NASDAQ:FISI) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 63,100 shares, a drop of 8.7% from the October 15th total of 69,100 shares. Based on an average trading volume of 40,100 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.4% of the shares of the stock are sold short.

Financial Institutions Price Performance

Shares of NASDAQ:FISI traded down $0.31 during trading on Tuesday, hitting $26.23. 5,517 shares of the company were exchanged, compared to its average volume of 49,911. Financial Institutions has a 1-year low of $16.29 and a 1-year high of $28.12. The company has a market capitalization of $405.78 million, a P/E ratio of 8.35 and a beta of 0.90. 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 business’s 50 day moving average is $25.49 and its 200-day moving average is $22.49.

Financial Institutions (NASDAQ:FISI) last posted its earnings results on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. The firm had revenue of $50.12 million during the quarter. During the same quarter in the prior year, the business posted $0.88 earnings per share. Equities analysts forecast that Financial Institutions will post 3.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FISI. Innealta Capital LLC acquired a new position in Financial Institutions in the 2nd quarter valued at approximately $25,000. US Bancorp DE raised its position in Financial Institutions by 119.3% during the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock worth $66,000 after purchasing an additional 1,399 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Financial Institutions during the 1st quarter worth about $98,000. CWM LLC grew its position in shares of Financial Institutions by 150.4% in the 2nd quarter. CWM LLC now owns 5,438 shares of the bank’s stock valued at $105,000 after buying an additional 3,266 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Financial Institutions in the third quarter valued at about $164,000. Institutional investors own 60.45% of the company’s stock.

Wall Street Analyst Weigh In

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

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.