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

Key Points

• Financial Institutions, Inc. declared a quarterly dividend of $0.31 per share, with payment scheduled for October 2nd to stockholders of record as of September 15th.
• The company has a dividend payout ratio of 32.6%, indicating that earnings sufficiently cover the dividend, and expects to maintain a similar ratio in the future.
• Financial Institutions reported earnings of $0.85 per share for the last quarter, exceeding analysts' expectations of $0.78, despite a slight revenue miss.

Financial Institutions, Inc. (NASDAQ:FISI - Get Free Report) announced a quarterly dividend on Monday, August 25th, RTT News reports. Investors of record on Monday, September 15th will be given a dividend of 0.31 per share by the bank on Thursday, October 2nd. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, September 15th.

Financial Institutions has a dividend payout ratio of 32.6% indicating that 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 Stock Performance

FISI stock traded up $0.05 during midday trading on Friday, hitting $27.67. 64,005 shares of the stock traded hands, compared to its average volume of 139,480. The firm has a market cap of $557.00 million, a P/E ratio of -18.20 and a beta of 0.79. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.87 and a quick ratio of 0.87. The stock's fifty day simple moving average is $26.36 and its 200-day simple moving average is $25.83. Financial Institutions has a 1-year low of $20.97 and a 1-year high of $29.78.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.78 by $0.07. The company had revenue of $59.74 million for the quarter, compared to analyst estimates of $59.86 million. Financial Institutions had a negative net margin of 4.96% and a positive return on equity of 10.44%. On average, analysts expect that Financial Institutions will post 3.3 earnings per share for the current year.

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.