Financial Institutions

FISI • NASDAQ

Financial Institutions is a banks - regional company in the financial services sector on NASDAQ, led by Martin K. Birmingham, with a market cap of $659.3M. As of Q3 2025, 81% of shares are held by 140 institutional investors, with PL Capital Advisors, LLC as the largest holder at 8.82%.

President and CEOMartin K. Birmingham

Market Cap$659.3M

Banks - Regional

Financial Services

Employees624.0

Websitefiiwarsaw.com

Country

United States of America

Overview

Overview of institutional ownership in FISI as of Q3 2025 with a market cap of $547.5M

All Institutions

Institutions: 140
Value Held: $443.9M
Shares Held: 16.3M
Avg Position: $3.2M
Median Position: $480.3K

Hedge Funds

Hedge Funds: 27
Value Held: $132.0M
Shares Held: 4.9M
Avg Position: $4.9M
Median Position: $1.9M

Ownership Breakdown

Institutional (non-HF)

56.97%

$312.0M

Hedge Funds

24.1%

$132.0M

Retail & Other

18.92%

$103.6M

Based on market cap of $547.5M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in FISI as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
PL Capital Advisors, LLC Hedge Fund•Activist	Richard J Lashley Managing Partner	$48.3M 16.87% of portfolio	8.82% 1.8M shares	Q4 2021 Held for 3y 11m	$286.3M
B BlackRock, Inc. Institution	-	$39.5M 0.00% of portfolio	7.21% 1.5M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$29.8M 0.00% of portfolio	5.44% 1.1M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$25.9M 0.01% of portfolio	4.72% 951.1K shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
A ADAGE CAPITAL PARTNERS GP LLC Institution	-	$22.1M 0.03% of portfolio	4.03% 811.2K shares	Q4 2024 Held for 11 months	$63.0B
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$20.0M 0.00% of portfolio	3.66% 736.8K shares	Q4 2024 Held for 11 months	$571.21B
Ategra Capital Management, LLC Hedge Fund•Sector	Jacques [Nmn] Rebibo Chairman	$15.6M 11.05% of portfolio	2.84% 572.1K shares	Q4 2020 Held for 4y 11m	$140.8M
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$15.0M 0.00% of portfolio	2.71% 544.7K shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$13.2M 0.00% of portfolio	2.41% 486.0K shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
P ProShare Advisors LLC Institution	Michael Lynn Sapir CEO	$12.5M 0.03% of portfolio	2.28% 459.8K shares	Q2 2025 Held for 5 months	$47.8B

Net Capital Flow

Institutional buying and selling activity for FISI in Q3 2025

Traded: +$1.6M
Buyers: 76
Sellers: 49
Total Bought: +$46.7M
Total Sold: −$45.1M
Avg Position: $2.9M

Biggest Buyers

Institution	Net Bought	Current Position
PL Capital Advisors, LLC Hedge Fund•Activist	+$11.2M +413.4K shares	$48.3M 1.8M shares
P ProShare Advisors LLC Institution	+$6.1M +223.5K shares	$12.5M 459.8K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$5.1M +187.3K shares	$20.0M 736.8K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$2.5M +93.6K shares	$5.0M 184.6K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$2.4M +87.7K shares	$4.8M 175.4K shares
GOLDMAN SACHS GROUP INC Institution	+$1.5M +55.5K shares	$6.0M 219.6K shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	+$1.2M +43.0K shares	$1.5M 53.4K shares
VANGUARD GROUP INC Institution	+$1.1M +40.2K shares	$29.8M 1.1M shares
R Russell Investments Group, Ltd. RIA/Wealth	+$1.0M +37.2K shares	$1.0M 37.6K shares
JPMORGAN CHASE & CO Institution	+$949.4K +34.9K shares	$10.3M 377.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
Fourthstone LLC Hedge Fund•Long/Short	−$14.3M −524.5K shares	$8.8M 322.2K shares
A AMERICAN CENTURY COMPANIES INC Institution	−$5.4M −198.7K shares	$1.4M 52.7K shares
C COURIER CAPITAL CORP RIA/Wealth	−$3.3M −119.5K shares	$3.6M 133.0K shares
C CANANDAIGUA NATIONAL BANK & TRUST CO Institution	−$2.7M −100.1K shares	$4.9M 179.7K shares
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	−$2.3M −83.7K shares	$9.1M 334.3K shares
L LSV ASSET MANAGEMENT Long Only Manager	−$1.9M −68.5K shares	$4.6M 167.5K shares
FIRST TRUST ADVISORS LP ETF Provider	−$1.8M −66.7K shares	$304.0K 11.2K shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	−$1.5M −54.0K shares	$25.9M 951.1K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	−$1.1M −41.1K shares	$9.9M 364.2K shares
JACOBS ASSET MANAGEMENT, LLC Hedge Fund•Long/Short	−$1.1M −42.8K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited FISI in Q3 2025

New Positions: 10
New Value: $2.0M
Exited Positions: 10
Exited Value: $3.5M

New Positions

Institution	Position Value
Numerai GP LLC Hedge Fund•Quant	$899.3K 33.1K shares
Quest Partners LLC Hedge Fund•Quant Macro	$444.3K 16.3K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$412.7K 15.2K shares
C CARY STREET PARTNERS FINANCIAL LLC Institution	$202.6K 7.5K shares
Q Quarry LP Institution	$21.1K 774.0 shares
O Optiver Holding B.V. Institution	$4.3K 158.0 shares
E ESL Trust Services, LLC Institution	$4.1K 150.0 shares
Stone House Investment Management, LLC RIA/Wealth	$2.2K 81.0 shares
R Root Financial Partners, LLC RIA/Wealth	$734.0 27.0 shares
Hartland & Co., LLC RIA/Wealth	$55.0 2.0 shares

Exited Positions

Institution	Previous Position
JACOBS ASSET MANAGEMENT, LLC Hedge Fund•Long/Short	$1.1M 42.8K shares
D Dynamic Technology Lab Private Ltd Institution	$816.9K 31.8K shares
J Jump Financial, LLC Institution	$428.9K 16.7K shares
C Cubist Systematic Strategies, LLC Institution	$377.4K 14.7K shares
S Stieven Capital Advisors, L.P. Hedge Fund•Long/Short	$346.2K 13.5K shares
STATE OF WISCONSIN INVESTMENT BOARD RIA/Wealth	$244.7K 9.5K shares
S SG Americas Securities, LLC Institution	$212.2K 8.3K shares
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	$14.0K 546.0 shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$6.9K 268.0 shares
B BESSEMER GROUP INC Institution	- 13.0 shares

Options Activity

Institutions with the largest Call and Put options positions in FISI as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with FISI as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
PL Capital Advisors, LLC Hedge Fund•Activist	Richard J Lashley Managing Partner	16.87% $48.3M	8.82% 1.8M shares	Q4 2021 Held for 3y 11m	$286.3M
Ategra Capital Management, LLC Hedge Fund•Sector	Jacques [Nmn] Rebibo Chairman	11.05% $15.6M	2.84% 572.1K shares	Q4 2020 Held for 4y 11m	$140.8M
R rhino investment partners, Inc Hedge Fund•Value	John Keith Schneider President	1.94% $6.0M	1.09% 220.2K shares	Q4 2024 Held for 11 months	$309.3M
Fourthstone LLC Hedge Fund•Long/Short	Amy Morris Stone CEO	1.57% $8.8M	1.60% 322.2K shares	Q3 2024 Held for 1y 2m	$557.6M
Palisades Investment Partners, LLC RIA/Wealth	Quinn R. Stills Managing Partner	1.48% $3.8M	0.68% 137.5K shares	Q2 2024 Held for 1y 5m	$254.6M
M MENDON CAPITAL ADVISORS CORP Hedge Fund•Sector	Anton Villars Schutz President	1.30% $2.9M	0.53% 106.0K shares	Q4 2024 Held for 11 months	$221.8M
B Bayview Asset Management, LLC Hedge Fund•Multi-Strategy	David Ertel CEO	1.03% $1.4M	0.25% 50.0K shares	Q2 2024 Held for 1y 5m	$132.1M
SANDLER ONEILL ASSET MANAGEMENT LLC Hedge Fund•Long/Short	Terry Anthony Maltese President	0.89% $5.7M	1.05% 211.0K shares	Q4 2024 Held for 11 months	$646.2M
B BANC FUNDS CO LLC Institution	-	0.69% $2.8M	0.52% 104.0K shares	Q4 2024 Held for 11 months	$411.3M
Cutler Capital Management, LLC Hedge Fund•Convert Bond Arb	Geoffrey Kristopher Allan Dancey President	0.64% $1.3M	0.24% 48.3K shares	Q2 2019 Held for 6y 5m	$205.9M

Hedge Fund Spotlight

Discover hedge funds investing in FISI

Numerai GP LLC

Hedge Fund • Quant

Portfolio ManagerRichard Malone Craib

Portfolio Value: $707.9M
Positions: 545
Last Reported: Q3 2025

Sector Allocation

Position in Financial Institutions

Market Value: $899.3K
Shares Held: 33.1K
Portfolio Weight: 0.13%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 Costco Wholesale COST	Discount Stores Consumer Defensive	$11.8M	1.66%
2 Manulife Financial MFC	Insurance - Life Financial Services	$10.2M	1.44%
3 IDEX IEX	Industrial - Machinery Industrials	$10.1M	1.43%