Financial Institutions, Inc. (NASDAQ:FISI – Get Rating) declared a quarterly dividend on Wednesday, May 25th, Zacks reports. Shareholders of record on Friday, June 17th will be given a dividend of 0.29 per share by the bank on Tuesday, July 5th. This represents a $1.16 annualized dividend and a yield of 4.16%. The ex-dividend date is Thursday, June 16th.
Financial Institutions has increased its dividend by an average of 4.0% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Financial Institutions has a dividend payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Financial Institutions to earn $3.78 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 30.7%.
NASDAQ FISI traded up $0.15 during trading on Friday, hitting $27.86. The stock had a trading volume of 129 shares, compared to its average volume of 53,215. The company has a market capitalization of $426.23 million, a PE ratio of 6.24 and a beta of 1.04. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $28.94 and a 200 day moving average price of $31.06. Financial Institutions has a twelve month low of $26.22 and a twelve month high of $34.43.
A number of equities analysts have recently commented on the company. StockNews.com downgraded Financial Institutions from a “buy” rating to a “hold” rating in a research report on Monday. Zacks Investment Research raised Financial Institutions from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Monday, May 2nd.
A number of hedge funds and other institutional investors have recently modified their holdings of FISI. Great West Life Assurance Co. Can raised its stake in shares of Financial Institutions by 177.3% during the first quarter. Great West Life Assurance Co. Can now owns 857 shares of the bank’s stock worth $26,000 after purchasing an additional 548 shares during the last quarter. Citigroup Inc. raised its stake in shares of Financial Institutions by 126.8% during the fourth quarter. Citigroup Inc. now owns 3,990 shares of the bank’s stock worth $127,000 after purchasing an additional 2,231 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Financial Institutions by 96.9% during the third quarter. BNP Paribas Arbitrage SA now owns 4,172 shares of the bank’s stock worth $128,000 after purchasing an additional 2,053 shares during the last quarter. Zebra Capital Management LLC acquired a new position in Financial Institutions during the first quarter worth $210,000. Finally, Squarepoint Ops LLC acquired a new position in Financial Institutions during the fourth quarter worth $220,000. Institutional investors own 68.82% of the company’s stock.
Financial Institutions Company Profile (Get Rating)
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 offers checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts.
- Get a free copy of the StockNews.com research report on Financial Institutions (FISI)
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