Financial Institutions, Inc. (NASDAQ:FISI) Plans $0.32 Quarterly Dividend

Financial Institutions, Inc. (NASDAQ:FISI) announced a quarterly dividend on Wednesday, August 26th. Shareholders of record on Tuesday, September 15th will be paid a dividend of 0.32 per share by the bank on Friday, October 2nd. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 15th.

Financial Institutions has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Financial Institutions has a payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Financial Institutions to earn $4.35 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 29.4%.

Financial Institutions Stock Performance

Shares of Financial Institutions stock opened at $40.80 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $40.09 and a two-hundred day moving average price of $36.04. Financial Institutions has a 1-year low of $25.61 and a 1-year high of $42.97. The company has a market cap of $804.17 million, a P/E ratio of 10.12 and a beta of 0.63.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Financial Institutions had a return on equity of 13.45% and a net margin of 21.78%.The company had revenue of $64.31 million for the quarter, compared to the consensus estimate of $63.54 million. As a group, analysts anticipate that Financial Institutions will post 4.21 EPS for the current year.

Financial Institutions Company Profile

Financial Institutions, Inc (NASDAQ: FISI) is a non-diversified, closed-end management investment company that seeks to provide tax-advantaged income to shareholders. The company invests primarily in investment-grade municipal obligations issued by states, municipalities and government agencies across the United States. By focusing on high-credit-quality bonds, Financial Institutions aims to deliver current income that is exempt from federal income tax.

In constructing its portfolio, the company may also utilize money market instruments and repurchase agreements to manage liquidity and facilitate efficient settlement.