Fulton Financial Co. (NASDAQ:FULT) to Issue Quarterly Dividend of $0.17

Fulton Financial Co. (NASDAQ:FULT) announced a quarterly dividend on Tuesday, September 17th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Tuesday, October 1st.

Fulton Financial has raised its dividend payment 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. 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 Price Performance

FULT stock opened at $18.73 on Thursday. The firm has a market cap of $3.40 billion, a P/E ratio of 11.47 and a beta of 0.74. The firm’s fifty day moving average is $18.44 and its 200 day moving average is $16.91. Fulton Financial has a 52 week low of $11.63 and a 52 week high of $20.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 0.93.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, July 16th. The bank reported $0.47 EPS 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 business had revenue of $334.71 million for the quarter, compared to analysts’ expectations of $296.38 million. During the same period in the previous year, the firm earned $0.47 EPS. The business’s quarterly revenue was up 22.4% on a year-over-year basis. Research analysts predict that Fulton Financial will post 1.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on FULT. 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 lowered their price target 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.