Financial Institutions, Inc. Announces Quarterly Dividend of $0.21 (FISI)
Financial Institutions, Inc. (NASDAQ:FISI) announced a quarterly dividend on Friday, May 26th. Shareholders of record on Wednesday, June 14th will be given a dividend of 0.21 per share by the bank on Monday, July 3rd. This represents a $0.84 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Monday, June 12th.
Financial Institutions (NASDAQ:FISI) traded down 0.16% during midday trading on Friday, reaching $31.10. The company’s stock had a trading volume of 26,812 shares. The firm has a market cap of $448.03 million, a P/E ratio of 14.67 and a beta of 1.04. Financial Institutions has a 52-week low of $24.56 and a 52-week high of $35.40. The firm has a 50 day moving average of $32.65 and a 200 day moving average of $32.71.
Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data on Tuesday, April 25th. The bank reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. Financial Institutions had a return on equity of 10.52% and a net margin of 21.15%. The firm had revenue of $34.83 million during the quarter. Analysts anticipate that Financial Institutions will post $2.14 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of Financial Institutions by 60.9% in the first quarter. Bank of America Corp DE now owns 46,080 shares of the bank’s stock worth $1,518,000 after buying an additional 17,446 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Financial Institutions by 36.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 81,538 shares of the bank’s stock worth $2,687,000 after buying an additional 21,603 shares during the period. Geode Capital Management LLC boosted its stake in shares of Financial Institutions by 14.5% in the first quarter. Geode Capital Management LLC now owns 123,164 shares of the bank’s stock worth $4,058,000 after buying an additional 15,631 shares during the period. Vanguard Group Inc. boosted its stake in shares of Financial Institutions by 10.1% in the first quarter. Vanguard Group Inc. now owns 584,353 shares of the bank’s stock worth $19,255,000 after buying an additional 53,552 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Financial Institutions by 10.8% in the first quarter. California Public Employees Retirement System now owns 33,900 shares of the bank’s stock worth $1,117,000 after buying an additional 3,300 shares during the period. 61.49% of the stock is owned by hedge funds and other institutional investors.
FISI has been the subject of a number of research reports. Hovde Group initiated coverage on Financial Institutions in a research note on Monday, March 20th. They issued an “outperform” rating for the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $33.00 price objective on shares of Financial Institutions in a research note on Wednesday, April 26th.
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About Financial Institutions
Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.
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