Fulton Financial Corp (FULT) Declares Quarterly Dividend of $0.13

Fulton Financial Corp (NASDAQ:FULT) announced a quarterly dividend on Wednesday, March 20th, Wall Street Journal reports. Stockholders of record on Monday, April 1st will be given a dividend of 0.13 per share by the bank on Monday, April 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, March 29th. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.12.

Fulton Financial has increased its dividend by an average of 10.3% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Fulton Financial has a payout ratio of 41.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Fulton Financial to earn $1.48 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 32.4%.

NASDAQ:FULT traded down $0.20 during midday trading on Wednesday, hitting $15.87. 1,929,127 shares of the stock were exchanged, compared to its average volume of 1,135,047. Fulton Financial has a one year low of $14.38 and a one year high of $19.13. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.47 and a beta of 1.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.96.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, January 15th. The bank reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). Fulton Financial had a return on equity of 9.25% and a net margin of 22.66%. The firm had revenue of $215.65 million for the quarter, compared to the consensus estimate of $215.11 million. During the same period in the previous year, the firm earned $0.28 EPS. On average, sell-side analysts expect that Fulton Financial will post 1.4 EPS for the current year.

Several equities research analysts recently commented on FULT shares. BidaskClub raised Fulton Financial from a “hold” rating to a “buy” rating in a report on Tuesday, November 27th. ValuEngine raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. Barclays reissued a “buy” rating and set a $21.00 target price on shares of Fulton Financial in a report on Friday, January 11th. Zacks Investment Research cut Fulton Financial from a “buy” rating to a “hold” rating in a report on Friday, January 11th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Fulton Financial in a report on Wednesday, January 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Fulton Financial presently has an average rating of “Hold” and a consensus target price of $18.92.

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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.

Read More: Debt-To-Equity Ratio

Dividend History for Fulton Financial (NASDAQ:FULT)

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