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

Fulton Financial Co. (NASDAQ:FULT) announced a quarterly dividend on Tuesday, June 18th, Zacks reports. Stockholders of record on Monday, July 1st will be paid a dividend of 0.17 per share by the bank on Monday, July 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Monday, July 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 37.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Fulton Financial to earn $1.85 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 36.8%.

Fulton Financial Trading Up 1.9 %

Shares of FULT opened at $16.98 on Friday. Fulton Financial has a one year low of $11.47 and a one year high of $17.68. The stock has a 50-day moving average price of $16.57 and a 200 day moving average price of $15.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $3.09 billion, a P/E ratio of 10.55 and a beta of 0.75.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, April 16th. The bank reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $230.36 million during the quarter, compared to analysts’ expectations of $268.90 million. Fulton Financial had a return on equity of 11.73% and a net margin of 18.31%. Sell-side analysts forecast that Fulton Financial will post 1.55 EPS for the current fiscal year.

Analysts Set New Price Targets

FULT has been the subject of several research analyst reports. Jefferies Financial Group dropped their target price on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Monday, April 8th. StockNews.com cut Fulton Financial from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods increased their target price on Fulton Financial from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Tuesday, April 30th. Stephens raised their price objective on Fulton Financial from $15.50 to $17.50 and gave the stock an “equal weight” rating in a research note on Tuesday, May 7th. Finally, Janney Montgomery Scott upgraded shares of Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 target price for the company in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Fulton Financial has an average rating of “Hold” and a consensus target price of $18.00.

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.