Fulton Financial Co. (NASDAQ:FULT) to Issue Quarterly Dividend of $0.18

Fulton Financial Co. (NASDAQ:FULT) declared a quarterly dividend on Tuesday, March 18th, RTT News reports. Shareholders of record on Tuesday, April 1st will be given a dividend of 0.18 per share by the bank on Tuesday, April 15th. This represents a $0.72 dividend on an annualized basis and a yield of 3.94%.

Fulton Financial has increased its dividend by an average of 7.2% annually over the last three years. Fulton Financial has a payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Fulton Financial to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 34.3%.

Fulton Financial Trading Up 0.3 %

Fulton Financial stock traded up $0.05 during trading hours on Tuesday, reaching $18.26. 1,162,051 shares of the company’s stock traded hands, compared to its average volume of 1,386,039. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial has a fifty-two week low of $13.87 and a fifty-two week high of $22.49. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 11.63 and a beta of 0.76. The firm’s 50 day moving average is $19.80 and its 200-day moving average is $19.46.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same quarter in the prior year, the firm posted $0.42 EPS. On average, analysts predict that Fulton Financial will post 1.91 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. DA Davidson upped their price target on Fulton Financial from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods upped their price target on Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, January 23rd. Finally, Hovde Group upped their price target on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research note on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Fulton Financial presently has a consensus rating of “Hold” and an average target price of $20.64.

Insider Buying and Selling

In related news, President Angela M. Snyder sold 13,322 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now directly owns 63,682 shares of the company’s stock, valued at approximately $1,317,580.58. This represents a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.07% of the stock is owned by company insiders.

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.