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

Fulton Financial Co. (NASDAQ:FULT) declared a quarterly dividend on Tuesday, June 18th, Zacks reports. Investors of record on Monday, July 1st will be given a dividend of 0.17 per share by the bank on Monday, July 15th. This represents a $0.68 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Monday, July 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 payout ratio of 37.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fulton Financial to earn $1.84 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 37.0%.

Fulton Financial Trading Up 1.9 %

NASDAQ FULT opened at $16.98 on Friday. 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 price-to-earnings ratio of 10.55 and a beta of 0.75. The company’s 50-day simple moving average is $16.57 and its two-hundred day simple moving average is $15.99. Fulton Financial has a one year low of $11.47 and a one year high of $17.68.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. DA Davidson raised their target price on shares of Fulton Financial from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, April 30th. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Stephens lifted their price objective on shares of Fulton Financial from $15.50 to $17.50 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. Janney Montgomery Scott raised shares of Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price objective on the stock in a research report on Monday, April 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Fulton Financial from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.00.

About Fulton Financial

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.