Fulton Financial Co. (FULT) To Go Ex-Dividend on April 1st

Fulton Financial Co. (NASDAQ:FULT) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Stockholders of record on Tuesday, April 1st will be paid 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 dividend yield of 4.01%. The ex-dividend date is Tuesday, April 1st.

Fulton Financial has raised its dividend payment by an average of 7.2% annually over the last three years. Fulton Financial has a dividend payout ratio of 34.8% meaning 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 Price Performance

Shares of FULT opened at $17.97 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 11.45 and a beta of 0.76. Fulton Financial has a 52 week low of $13.87 and a 52 week high of $22.49. The stock has a 50 day moving average of $19.50 and a 200-day moving average of $19.43.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate 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 last year, the business earned $0.42 earnings per share. As a group, analysts forecast that Fulton Financial will post 1.91 EPS for the current year.

Insider Buying and Selling

In other Fulton Financial 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 value of $275,632.18. Following the sale, the president now directly owns 63,682 shares in the company, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

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

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.