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

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

Fulton Financial has increased its dividend by an average of 7.2% annually over the last three years. Fulton Financial has a payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Research 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 stock opened at $17.93 on Monday. The firm has a 50 day moving average of $18.42 and a two-hundred day moving average of $17.06. Fulton Financial has a 12 month low of $11.63 and a 12 month high of $20.33. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 11.14 and a beta of 0.74. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.26.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, July 16th. The bank reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.22. The firm had revenue of $334.71 million during the quarter, compared to analysts’ expectations of $296.38 million. Fulton Financial had a net margin of 17.93% and a return on equity of 11.29%. Fulton Financial’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. As a group, equities analysts anticipate that Fulton Financial will post 1.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FULT. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Jefferies Financial Group lowered their price target on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.