Fulton Financial Co. Plans None Dividend of $0.06 (NASDAQ:FULT)

Fulton Financial Co. (NASDAQ:FULTGet Rating) declared a None dividend on Monday, November 21st, Zacks reports. Shareholders of record on Thursday, December 1st will be given a dividend of 0.06 per share by the bank on Thursday, December 15th. The ex-dividend date of this dividend is Wednesday, November 30th.

Fulton Financial has increased its dividend by an average of 7.2% per year over the last three years and has increased its dividend every year for the last 2 years. Fulton Financial has a dividend payout ratio of 31.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Fulton Financial to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 31.4%.

Fulton Financial Stock Up 1.5 %

Shares of FULT opened at $18.56 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $3.11 billion, a PE ratio of 11.82 and a beta of 0.80. The company’s 50-day simple moving average is $17.28 and its 200-day simple moving average is $16.23. Fulton Financial has a 1 year low of $13.72 and a 1 year high of $19.17.

Insider Buying and Selling

In related news, EVP Angela M. Snyder sold 4,818 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $18.23, for a total transaction of $87,832.14. Following the completion of the transaction, the executive vice president now owns 33,246 shares in the company, valued at $606,074.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC raised its position in shares of Fulton Financial by 1,554.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock worth $36,000 after acquiring an additional 2,067 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in Fulton Financial during the third quarter worth approximately $42,000. Point72 Hong Kong Ltd raised its holdings in Fulton Financial by 11.7% during the first quarter. Point72 Hong Kong Ltd now owns 7,082 shares of the bank’s stock worth $118,000 after purchasing an additional 742 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Fulton Financial during the 3rd quarter worth approximately $175,000. Finally, Captrust Financial Advisors boosted its holdings in shares of Fulton Financial by 322.5% in the 2nd quarter. Captrust Financial Advisors now owns 12,336 shares of the bank’s stock valued at $178,000 after buying an additional 9,416 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FULT has been the subject of several recent research reports. Piper Sandler raised their price target on shares of Fulton Financial to $20.00 in a research report on Wednesday, October 5th. DA Davidson reiterated a “neutral” rating on shares of Fulton Financial in a report on Wednesday, July 27th. Finally, StockNews.com began coverage on Fulton Financial in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

Fulton Financial Company Profile

(Get Rating)

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers secured consumer loans, including home equity loans and lines of credit, automobile loans, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial real estate, commercial and industrial, and construction loans, as well as equipment lease financing loans.

See Also

Dividend History for Fulton Financial (NASDAQ:FULT)

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