Financial Institutions, Inc. (NASDAQ:FISI) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $31.50 price objective on shares of Financial Institutions in a report on Thursday, August 3rd.

Financial Institutions (NASDAQ:FISI) opened at 26.05 on Thursday. Financial Institutions has a 12 month low of $25.65 and a 12 month high of $35.40. The stock has a market cap of $390.70 million, a P/E ratio of 12.71 and a beta of 1.20. The firm’s 50-day moving average is $27.81 and its 200-day moving average is $30.94.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.08. Financial Institutions had a net margin of 20.08% and a return on equity of 10.03%. The firm had revenue of $36.76 million for the quarter. On average, equities analysts forecast that Financial Institutions will post $1.96 earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of FISI. Brandywine Global Investment Management LLC lifted its holdings in Financial Institutions by 17.4% in the second quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock worth $142,000 after purchasing an additional 702 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Financial Institutions in the second quarter worth about $216,000. Virtu KCG Holdings LLC acquired a new stake in Financial Institutions in the second quarter worth about $219,000. Smith Asset Management Group LP lifted its holdings in Financial Institutions by 820.2% in the second quarter. Smith Asset Management Group LP now owns 7,638 shares of the bank’s stock worth $228,000 after purchasing an additional 6,808 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in Financial Institutions in the first quarter worth about $264,000. 67.11% of the stock is owned by institutional investors and hedge funds.

About Financial Institutions

Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.

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