Financial Institutions, Inc. Announces Quarterly Dividend of $0.30 (NASDAQ:FISI)

by · The Markets Daily

Financial Institutions, Inc. (NASDAQ:FISI – Get Free Report) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.30 per share by the bank on Thursday, January 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Friday, December 13th.

Financial Institutions has increased its dividend by an average of 4.9% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Financial Institutions has a payout ratio of 38.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Financial Institutions to earn $3.04 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 39.5%.

Financial Institutions Trading Up 3.9 %

Shares of Financial Institutions stock traded up $1.03 during trading hours on Thursday, reaching $27.41. The stock had a trading volume of 31,658 shares, compared to its average volume of 49,776. The firm has a 50 day simple moving average of $25.57 and a two-hundred day simple moving average of $22.63. The firm has a market capitalization of $424.03 million, a price-to-earnings ratio of 8.30 and a beta of 0.90. 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 has a 1 year low of $16.29 and a 1 year high of $28.12.

Financial Institutions (NASDAQ:FISI – Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $50.12 million for the quarter. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. During the same quarter last year, the business earned $0.88 earnings per share. As a group, equities research analysts anticipate that Financial Institutions will post 3.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

FISI has been the topic of several analyst reports. StockNews.com downgraded Financial Institutions from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $25.00 price objective (up previously from $20.00) on shares of Financial Institutions in a research note on Monday, July 29th.

Read Our Latest Research Report on FISI

Financial Institutions Company Profile

(Get Free Report)

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.

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