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

Financial Institutions, Inc. (NASDAQ:FISI) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders 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 dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, December 13th.

Financial Institutions has increased its dividend payment by an average of 4.9% annually over the last three years and has raised 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. Equities research 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 on Thursday, reaching $27.41. 31,658 shares of the company were exchanged, compared to its average volume of 49,776. Financial Institutions has a fifty-two week low of $16.29 and a fifty-two week high of $28.12. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. 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 stock has a fifty day moving average price of $25.57 and a 200-day moving average price of $22.63.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. The firm had revenue of $50.12 million during the quarter. During the same period last year, the company earned $0.88 EPS. On average, analysts expect that Financial Institutions will post 3.6 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on FISI shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $25.00 price target (up from $20.00) on shares of Financial Institutions in a research report on Monday, July 29th. StockNews.com lowered Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

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.