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. Stockholders 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 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Tuesday, October 1st.

Fulton Financial has increased its dividend payment by an average of 7.2% per year over the last three years. Fulton Financial has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 1.5 %

NASDAQ:FULT opened at $18.73 on Thursday. The company has a market cap of $3.40 billion, a PE ratio of 11.47 and a beta of 0.74. 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 company has a 50 day simple moving average of $18.44 and a two-hundred day simple moving average of $16.91. Fulton Financial has a 12 month low of $11.63 and a 12 month high of $20.33.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. 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 reduced their target price on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.