Fulton Financial Corp (NASDAQ:FULT) announced a quarterly dividend on Wednesday, September 19th, Wall Street Journal reports. Shareholders of record on Monday, October 1st will be given a dividend of 0.12 per share by the bank on Monday, October 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, September 28th.

Fulton Financial has increased its dividend by an average of 10.4% annually over the last three years and has raised its dividend every year for the last 7 years. Fulton Financial has a payout ratio of 41.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Fulton Financial to earn $1.37 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 35.0%.

Fulton Financial stock opened at $17.55 on Friday. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.91 and a beta of 1.01. Fulton Financial has a 12 month low of $15.05 and a 12 month high of $19.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.97 and a quick ratio of 0.97.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, July 17th. The bank reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.07. The business had revenue of $208.12 million during the quarter, compared to analyst estimates of $208.67 million. Fulton Financial had a return on equity of 8.20% and a net margin of 19.05%. During the same quarter last year, the company earned $0.26 EPS. equities research analysts forecast that Fulton Financial will post 1.15 earnings per share for the current year.

A number of research firms have commented on FULT. Zacks Investment Research raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th. ValuEngine raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. BidaskClub raised Fulton Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 25th. Finally, Piper Jaffray Companies raised Fulton Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $18.50 to $19.00 in a report on Thursday, July 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.57.

About Fulton Financial

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

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Dividend History for Fulton Financial (NASDAQ:FULT)

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