Fulton Financial Corp (NASDAQ:FULT) announced a quarterly dividend on Tuesday, June 18th, NASDAQ reports. Investors of record on Monday, July 1st will be given a dividend of 0.13 per share by the bank on Monday, July 15th. This represents a $0.52 annualized dividend and a yield of 3.31%. The ex-dividend date is Friday, June 28th.
Fulton Financial has raised its dividend payment by an average of 10.3% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Fulton Financial has a payout ratio of 45.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Fulton Financial to earn $1.43 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 36.4%.
FULT stock opened at $15.71 on Wednesday. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.41 and a beta of 1.05. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average price is $16.37. Fulton Financial has a one year low of $14.38 and a one year high of $18.45.
Several analysts recently commented on FULT shares. BidaskClub upgraded shares of Fulton Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Zacks Investment Research upgraded shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Friday, April 5th. Boenning Scattergood restated a “hold” rating on shares of Fulton Financial in a research report on Wednesday, April 17th. ValuEngine upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, DA Davidson restated a “neutral” rating on shares of Fulton Financial in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $18.88.
In other news, insider David M. Campbell sold 5,160 shares of Fulton Financial stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $17.00, for a total value of $87,720.00. Following the sale, the insider now owns 7,283 shares in the company, valued at $123,811. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Curtis J. Myers sold 6,500 shares of Fulton Financial stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $17.03, for a total transaction of $110,695.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,660 shares of company stock worth $249,145. Company insiders own 1.02% of the company’s stock.
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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