Financial Institutions, Inc. announced a quarterly cash dividend of $0.30 per share, payable January 2, 2025.
Quiver AI Summary
Financial Institutions, Inc. has declared a quarterly cash dividend of $0.30 per common share, along with dividends of $0.75 for its Series A preferred stock and $2.12 for its Series B-1 preferred stock, all payable on January 2, 2025, to shareholders on record as of December 13, 2024. The company, which oversees Five Star Bank and Courier Capital, LLC, has approximately $6.2 billion in assets and provides a range of banking and wealth management services across New York and the Mid-Atlantic region.
Potential Positives
- Approval of a quarterly cash dividend of $0.30 per common share enhances shareholder value and demonstrates the company's commitment to returning profits to shareholders.
- Declaring dividends on preferred stock ($0.75 per share on Series A and $2.12 per share on Series B-1) signals financial stability and attractiveness to both common and preferred shareholders.
- Announcement of dividends may positively influence investor perception and confidence in Financial Institutions, Inc.'s financial health and growth potential.
- Demonstrates the company’s ongoing profitability and capability to generate sufficient cash flow to support dividend distributions, which is a positive indicator for future financial performance.
Potential Negatives
- Announcing a cash dividend may indicate that the company feels it has limited opportunities for reinvestment in growth, which could be a red flag for future expansion.
- The decision to pay dividends while also facing potential economic challenges could suggest that the company prioritizes short-term returns over long-term stability or growth.
- Having multiple dividend payouts for different classes of stock might signal a complex capital structure that could confuse investors or complicate future financing efforts.
FAQ
What is the approved quarterly cash dividend for Financial Institutions, Inc.?
The approved quarterly cash dividend is $0.30 per outstanding common share.
When will the dividends be payable?
The dividends are payable on January 2, 2025, to shareholders of record on December 13, 2024.
What are the preferred stock dividends declared?
The dividends declared are $0.75 per share on Series A preferred stock and $2.12 per share on Series B-1 preferred stock.
What services does Financial Institutions, Inc. offer?
Financial Institutions, Inc. offers banking, wealth management, investment management, and financial planning services.
Where can I find more information about Financial Institutions, Inc.?
More information can be found at Five-StarBank.com and FISI-Investors.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FISI Hedge Fund Activity
We have seen 61 institutional investors add shares of $FISI stock to their portfolio, and 46 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PL CAPITAL ADVISORS, LLC added 1,422,765 shares (+408.0%) to their portfolio in Q3 2024
- BASSWOOD CAPITAL MANAGEMENT, L.L.C. removed 211,112 shares (-100.0%) from their portfolio in Q2 2024
- ZACKS INVESTMENT MANAGEMENT added 184,767 shares (+inf%) to their portfolio in Q3 2024
- GATOR CAPITAL MANAGEMENT, LLC removed 81,223 shares (-100.0%) from their portfolio in Q2 2024
- FIRST TRUST ADVISORS LP added 63,691 shares (+inf%) to their portfolio in Q3 2024
- SEGALL BRYANT & HAMILL, LLC added 53,556 shares (+inf%) to their portfolio in Q3 2024
- MAN GROUP PLC removed 42,123 shares (-100.0%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
WARSAW, N.Y., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank and Courier Capital, LLC, announced today that its Board of Directors has approved a quarterly cash dividend of $0.30 per outstanding common share.
The Company also announced dividends of $0.75 per share on its Series A 3% preferred stock and $2.12 per share on its Series B-1 8.48% preferred stock.
All dividends are payable January 2, 2025, to shareholders of record on December 13, 2024.
About Financial Institutions, Inc.
Financial Institutions, Inc. (NASDAQ: FISI) is an innovative financial holding company with approximately $6.2 billion in assets offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Courier Capital, LLC offers customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com.
For additional information contact:
Kate Croft
Director of Investor and External Relations
(716) 817-5159
[email protected]
