Financial Institutions, Inc. (NASDAQ:FISI – Get Free Report) announced a quarterly dividend on Monday, August 19th, Zacks reports. Investors of record on Friday, September 13th will be given a dividend of 0.30 per share by the bank on Wednesday, October 2nd. This represents a $1.20 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Friday, September 13th.
Financial Institutions has raised its dividend by an average of 4.9% per year over the last three years and has raised its dividend every year for the last 13 years. Financial Institutions has a payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Financial Institutions to earn $3.02 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 39.7%.
Financial Institutions Stock Performance
FISI stock traded down $0.07 during trading on Wednesday, reaching $24.17. 2,803 shares of the company’s stock were exchanged, compared to its average volume of 54,841. Financial Institutions has a 1-year low of $15.22 and a 1-year high of $27.75. The firm has a market cap of $373.35 million, a PE ratio of 9.66 and a beta of 0.90. The company’s fifty day moving average price is $21.32 and its 200-day moving average price is $19.28. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.29.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on FISI. StockNews.com raised Financial Institutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $25.00 price target (up previously from $20.00) on shares of Financial Institutions in a research note on Monday, July 29th.
Read Our Latest Analysis on Financial Institutions
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.
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