Financial Institutions, Inc. Plans Quarterly Dividend of $0.31 (NASDAQ:FISI)

Financial Institutions, Inc. (NASDAQ:FISI) announced a quarterly dividend on Friday, November 14th. Stockholders of record on Monday, December 15th will be paid a dividend of 0.31 per share by the bank on Friday, January 2nd. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, December 15th.

Financial Institutions has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Financial Institutions has a dividend payout ratio of 32.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Financial Institutions to earn $3.76 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 33.0%.

Financial Institutions Price Performance

NASDAQ:FISI traded up $0.14 during mid-day trading on Friday, hitting $32.75. The company’s stock had a trading volume of 95,798 shares, compared to its average volume of 104,282. The company has a market capitalization of $659.26 million, a price-to-earnings ratio of -23.91 and a beta of 0.72. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.19. Financial Institutions has a fifty-two week low of $20.97 and a fifty-two week high of $32.99. The stock has a fifty day moving average of $29.03 and a 200-day moving average of $27.31.

Financial Institutions (NASDAQ:FISI) last issued its earnings results on Monday, November 3rd. The bank reported $0.99 earnings per share (EPS) for the quarter. The business had revenue of $63.85 million during the quarter. Financial Institutions had a positive return on equity of 11.10% and a negative net margin of 2.93%. As a group, equities analysts forecast that Financial Institutions will post 3.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on FISI. Keefe, Bruyette & Woods increased their price target on Financial Institutions from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Wall Street Zen upgraded Financial Institutions from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Financial Institutions in a research note on Monday. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Financial Institutions Company Profile

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.