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

Fulton Financial Co. (NASDAQ:FULT) announced 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 of this dividend is Tuesday, October 1st.

Fulton Financial has raised its dividend by an average of 7.2% annually over the last three years. Fulton Financial has a dividend payout ratio of 36.4% meaning 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

Fulton Financial stock opened at $17.93 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.26 billion, a P/E ratio of 11.14 and a beta of 0.74. Fulton Financial has a 1-year low of $11.63 and a 1-year high of $20.33. The firm has a 50-day moving average of $18.42 and a 200-day moving average of $17.05.

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

Analysts Set New Price Targets

Several research firms have recently commented on FULT. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Jefferies Financial Group decreased their target price on Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a research report 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 MarketBeat.com, the stock currently has an average 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.