Fulton Financial Co. Announces Quarterly Dividend of $0.14 (NASDAQ:FULT)

Fulton Financial Co. (NASDAQ:FULT) declared a quarterly dividend on Thursday, September 23rd, Wall Street Journal reports. Stockholders of record on Friday, October 1st will be paid a dividend of 0.14 per share by the bank on Friday, October 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Thursday, September 30th.

Fulton Financial has raised its dividend payment by 18.2% over the last three years and has increased its dividend every year for the last 1 years. Fulton Financial has a dividend payout ratio of 37.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Fulton Financial to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 41.9%.

FULT traded up $0.28 on Thursday, hitting $14.83. The company had a trading volume of 1,188,033 shares, compared to its average volume of 921,964. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 10.05 and a beta of 0.84. The stock has a fifty day moving average price of $15.48 and a 200-day moving average price of $16.42. Fulton Financial has a 12-month low of $8.89 and a 12-month high of $18.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 0.91.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Monday, July 19th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The firm had revenue of $214.29 million for the quarter, compared to the consensus estimate of $217.31 million. Fulton Financial had a net margin of 25.29% and a return on equity of 10.27%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. Analysts forecast that Fulton Financial will post 1.48 EPS for the current fiscal year.

FULT has been the topic of several recent research reports. Zacks Investment Research raised shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Tuesday, June 29th. Raymond James reaffirmed a “hold” rating and set a $15.17 target price on shares of Fulton Financial in a research note on Monday, July 26th.

An institutional investor recently raised its position in Fulton Financial stock. Morgan Stanley lifted its position in Fulton Financial Co. (NASDAQ:FULT) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 387,955 shares of the bank’s stock after buying an additional 17,336 shares during the quarter. Morgan Stanley owned approximately 0.24% of Fulton Financial worth $6,122,000 at the end of the most recent reporting period. 62.97% of the stock is owned by hedge funds and other institutional investors.

About Fulton Financial

Fulton Financial Corp. is financial holding company, which through its subsidiaries, engages in the provision of consumer and commercial banking products and services. It offers checking account and savings deposit products, certificates of deposit and individual retirement accounts. The company also offers investment management, trust, brokerage, insurance and investment advisory services to consumer and commercial banking customers in the market areas serviced by the subsidiary banks.

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Dividend History for Fulton Financial (NASDAQ:FULT)

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