Fulton Financial Corp (NASDAQ:FULT) announced a quarterly dividend on Tuesday, June 16th, Zacks reports. Investors of record on Wednesday, July 1st will be given a dividend of 0.13 per share by the bank on Wednesday, July 15th. This represents a $0.52 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date of this dividend is Tuesday, June 30th.
Fulton Financial has increased its dividend payment by an average of 35.4% annually over the last three years and has increased its dividend annually for the last 9 consecutive years. Fulton Financial has a dividend payout ratio of 94.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Fulton Financial to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 52.0%.
FULT opened at $9.82 on Monday. Fulton Financial has a one year low of $8.91 and a one year high of $18.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50 day simple moving average is $10.81 and its 200-day simple moving average is $13.80. The stock has a market capitalization of $1.59 billion, a P/E ratio of 8.12 and a beta of 0.96.
Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, April 21st. The bank reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.25. Fulton Financial had a net margin of 19.35% and a return on equity of 8.73%. The business had revenue of $215.39 million for the quarter, compared to analyst estimates of $210.10 million. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, analysts anticipate that Fulton Financial will post 0.51 EPS for the current year.
Several research firms have weighed in on FULT. BidaskClub downgraded shares of Fulton Financial from a “sell” rating to a “strong sell” rating in a report on Saturday, June 13th. Zacks Investment Research upgraded shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday, June 23rd. ValuEngine downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Raymond James upgraded shares of Fulton Financial from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Wednesday, June 17th. Finally, Stephens initiated coverage on shares of Fulton Financial in a report on Monday, June 1st. They issued an “equal weight” rating and a $12.00 target price for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $12.00.
In related news, EVP Angela M. Sargent sold 8,172 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $11.59, for a total transaction of $94,713.48. Following the completion of the transaction, the executive vice president now owns 58,902 shares in the company, valued at $682,674.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James R. Moxley III purchased 8,000 shares of Fulton Financial stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average price of $10.99 per share, with a total value of $87,920.00. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by corporate insiders.
Fulton Financial Company Profile
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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