AQR Capital Management LLC Has $1.22 Million Stake in Financial Institutions, Inc. (NASDAQ:FISI)

AQR Capital Management LLC boosted its holdings in Financial Institutions, Inc. (NASDAQ:FISI - Free Report) by 147.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,213 shares of the bank's stock after purchasing an additional 37,653 shares during the period. AQR Capital Management LLC owned about 0.41% of Financial Institutions worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its position in shares of Financial Institutions by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank's stock valued at $166,000 after acquiring an additional 742 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Financial Institutions by 11.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,276 shares of the bank's stock valued at $237,000 after acquiring an additional 1,216 shares during the period. Innealta Capital LLC bought a new position in shares of Financial Institutions in the 2nd quarter valued at about $25,000. Bank of New York Mellon Corp grew its position in shares of Financial Institutions by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 155,257 shares of the bank's stock valued at $3,000,000 after acquiring an additional 2,653 shares during the period. Finally, 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 acquiring an additional 3,266 shares during the period. Institutional investors own 60.45% of the company's stock.

Financial Institutions Price Performance

Shares of NASDAQ:FISI traded up $0.94 during midday trading on Friday, hitting $25.51. The stock had a trading volume of 36,681 shares, compared to its average volume of 51,252. The company's 50-day moving average price is $24.85 and its 200-day moving average price is $21.01. The company has a market capitalization of $394.05 million, a P/E ratio of 10.16 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.28. Financial Institutions, Inc. has a fifty-two week low of $15.22 and a fifty-two week high of $27.75.

Financial Institutions (NASDAQ:FISI - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.92. The company had revenue of $102.80 million for the quarter. Financial Institutions had a net margin of 13.95% and a return on equity of 12.06%. During the same period last year, the firm posted $0.91 earnings per share. As a group, equities research analysts predict that Financial Institutions, Inc. will post 3.64 EPS for the current fiscal year.

Financial Institutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Friday, September 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend was Friday, September 13th. Financial Institutions's payout ratio is 47.81%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods restated a "market perform" rating and set a $25.00 target price (up previously from $20.00) on shares of Financial Institutions in a research note on Monday, July 29th. StockNews.com cut shares of 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.