Fulton Financial Co. (NASDAQ:FULT) Declares $0.18 Quarterly Dividend

Fulton Financial Co. (NASDAQ:FULT - Get Free Report) 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 annualized dividend and a yield of 4.00%. The ex-dividend date is Tuesday, April 1st.

Fulton Financial has raised its dividend by an average of 7.2% per year over the last three years. Fulton Financial has a payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.8 %

FULT traded down $0.14 on Friday, reaching $18.02. 5,411,143 shares of the company traded hands, compared to its average volume of 1,401,305. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 11.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The stock's 50 day moving average price is $19.71 and its 200-day moving average price is $19.42. Fulton Financial has a 52-week low of $13.87 and a 52-week high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, topping 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 period in the prior year, the firm earned $0.42 EPS. On average, sell-side analysts expect that Fulton Financial will post 1.91 EPS for the current fiscal year.

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Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Fulton Financial from $23.00 to $24.00 and gave the company a "market perform" rating in a research note on Thursday, January 23rd. Hovde Group increased their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a research report on Monday, January 27th. Stephens raised Fulton Financial from an "equal weight" rating to an "overweight" rating in a research report on Monday, December 9th. Finally, DA Davidson raised their price objective on Fulton Financial from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Fulton Financial presently has an average rating of "Hold" and an average price target of $20.64.

Insiders Place Their Bets

In other news, President Angela M. Snyder sold 13,322 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the transaction, the president now owns 63,682 shares in the company, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.07% of the company's stock.

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.