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

Fulton Financial Co. (NASDAQ:FULT) declared a quarterly dividend on Tuesday, June 18th, Zacks reports. Shareholders 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 dividend yield of 4.00%. The ex-dividend date of this dividend is Monday, July 1st.

Fulton Financial has increased its dividend 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. 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 %

NASDAQ:FULT opened at $16.98 on Friday. The stock has a fifty day moving average price of $16.57 and a 200 day moving average price of $15.99. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. Fulton Financial has a 12-month low of $11.47 and a 12-month high of $17.68. The firm has a market cap of $3.09 billion, a PE ratio of 10.55 and a beta of 0.75.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The business 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 anticipate that Fulton Financial will post 1.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

FULT has been the subject of a number of analyst reports. 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. Stephens upped their price target on Fulton Financial from $15.50 to $17.50 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. DA Davidson raised their price objective on shares of Fulton Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a 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. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Fulton Financial from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Fulton Financial presently has a consensus rating of “Hold” and an average 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.