Financial Institutions, Inc. (FISI) Increases Dividend to $0.24 Per Share

Financial Institutions, Inc. (NASDAQ:FISI) announced a quarterly dividend on Thursday, March 1st, Wall Street Journal reports. Investors of record on Thursday, March 15th will be given a dividend of 0.24 per share by the bank on Monday, April 2nd. This represents a $0.96 annualized dividend and a yield of 2.95%. The ex-dividend date is Wednesday, March 14th. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.22.

Shares of Financial Institutions (FISI) opened at $32.55 on Tuesday. The company has a market capitalization of $508.64, a PE ratio of 16.78 and a beta of 1.13. Financial Institutions has a 1-year low of $25.65 and a 1-year high of $35.35. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data on Monday, January 29th. The bank reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Financial Institutions had a return on equity of 9.31% and a net margin of 20.34%. The company had revenue of $38.75 million for the quarter. analysts predict that Financial Institutions will post 2.34 EPS for the current year.

FISI has been the topic of several research analyst reports. BidaskClub lowered Financial Institutions from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 28th. Hovde Group reissued a “buy” rating and issued a $36.00 price objective on shares of Financial Institutions in a report on Friday, February 2nd. Finally, ValuEngine lowered Financial Institutions from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $33.50.

In other news, Director Andrew W. Dorn, Jr. bought 1,557 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were acquired at an average price of $30.95 per share, for a total transaction of $48,189.15. Following the completion of the transaction, the director now directly owns 16,999 shares in the company, valued at approximately $526,119.05. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert M. Glaser bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was purchased at an average price of $32.34 per share, for a total transaction of $32,340.00. Following the transaction, the director now owns 13,451 shares of the company’s stock, valued at $435,005.34. The disclosure for this purchase can be found here. 5.49% of the stock is currently owned by company insiders.

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Financial Institutions Company Profile

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.

Dividend History for Financial Institutions (NASDAQ:FISI)

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