Fulton Financial Co. (FULT) to Issue Quarterly Dividend of $0.17 on October 15th

Fulton Financial Co. (NASDAQ:FULT) announced a quarterly dividend on Tuesday, September 17th, Zacks reports. Investors 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 annualized dividend and a yield of 3.79%. The ex-dividend date is Tuesday, October 1st.

Fulton Financial has increased its dividend by an average of 7.2% annually over the last three years. Fulton Financial has a dividend payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Research 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

Shares of NASDAQ:FULT opened at $17.93 on Friday. The company has a 50-day moving average price of $18.42 and a two-hundred day moving average price of $17.05. Fulton Financial has a twelve month low of $11.63 and a twelve month high of $20.33. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $3.26 billion, a PE ratio of 11.14 and a beta of 0.74.

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

Wall Street Analyst Weigh In

FULT has been the topic of a number of recent research reports. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Jefferies Financial Group decreased their price target on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Fulton Financial 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.