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

Financial Institutions, Inc. (NASDAQ:FISI) announced a quarterly dividend on Monday, August 19th, Zacks reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.30 per share by the bank on Wednesday, October 2nd. This represents a $1.20 annualized dividend and a dividend yield of 4.74%. The ex-dividend date is Friday, September 13th.

Financial Institutions has increased its dividend by an average of 4.9% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Financial Institutions has a payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Financial Institutions to earn $3.05 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 39.3%.

Financial Institutions Trading Up 1.3 %

NASDAQ FISI opened at $25.34 on Wednesday. The business has a 50 day simple moving average of $23.56 and a 200 day simple moving average of $19.95. Financial Institutions has a one year low of $15.22 and a one year high of $27.75. The stock has a market capitalization of $391.50 million, a P/E ratio of 10.10 and a beta of 0.89. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.86 and a quick ratio of 0.86.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.92. The business had revenue of $102.80 million for the quarter. Financial Institutions had a return on equity of 12.06% and a net margin of 13.95%. During the same quarter in the previous year, the company posted $0.91 EPS. Research analysts expect that Financial Institutions will post 3.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

FISI has been the topic of a number of recent research reports. StockNews.com upgraded Financial Institutions from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $25.00 price target (up from $20.00) on shares of Financial Institutions in a report on Monday, July 29th.

About Financial Institutions

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.