Fulton Financial Co. (NASDAQ:FULT) Announces $0.17 Quarterly Dividend

Fulton Financial Co. (NASDAQ:FULT) announced a quarterly dividend on Tuesday, September 17th, Zacks reports. Shareholders of record on Tuesday, October 1st will be paid a dividend of 0.17 per share by the bank on Tuesday, October 15th. This represents a $0.68 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Tuesday, October 1st.

Fulton Financial has increased its dividend payment by an average of 7.2% annually over the last three years. Fulton Financial has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fulton Financial to earn $1.87 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 36.4%.

Fulton Financial Stock Performance

FULT opened at $17.93 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. Fulton Financial has a twelve month low of $11.63 and a twelve month high of $20.33. The business’s 50 day moving average is $18.42 and its 200-day moving average is $17.06. The stock has a market cap of $3.26 billion, a PE ratio of 11.14 and a beta of 0.74.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, July 16th. The bank reported $0.47 EPS for the quarter, topping the consensus estimate of $0.25 by $0.22. The firm had revenue of $334.71 million for the quarter, compared to analysts’ expectations of $296.38 million. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 earnings per share. On average, analysts predict that Fulton Financial will post 1.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FULT shares. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Jefferies Financial Group cut their target price on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.40.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.