Fulton Financial Co. (FULT) To Go Ex-Dividend on March 28th

Fulton Financial Co. (NASDAQ:FULTGet Free Report) declared a quarterly dividend on Tuesday, March 19th, Zacks reports. Investors of record on Monday, April 1st will be given a dividend of 0.17 per share by the bank on Monday, April 15th. This represents a $0.68 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Thursday, March 28th.

Fulton Financial has increased its dividend payment by an average of 7.2% annually over the last three years and has increased its dividend every year for the last 3 years. Fulton Financial has a dividend payout ratio of 43.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Fulton Financial to earn $1.54 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 44.2%.

Fulton Financial Price Performance

Shares of NASDAQ FULT opened at $15.35 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $2.49 billion, a PE ratio of 9.36 and a beta of 0.80. The stock’s 50 day moving average price is $15.52 and its 200-day moving average price is $14.57. Fulton Financial has a twelve month low of $9.64 and a twelve month high of $17.06.

Fulton Financial (NASDAQ:FULTGet Free Report) last announced its quarterly earnings data on Wednesday, January 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $271.38 million during the quarter, compared to the consensus estimate of $268.70 million. Fulton Financial had a return on equity of 12.01% and a net margin of 18.94%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. On average, equities analysts anticipate that Fulton Financial will post 1.51 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Stephens restated an “equal weight” rating and issued a $16.00 target price on shares of Fulton Financial in a research note on Wednesday, January 17th. Keefe, Bruyette & Woods boosted their target price on shares of Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a report on Thursday, January 18th. Finally, StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.60.

Check Out Our Latest Research Report on FULT

Institutional Trading of Fulton Financial

Hedge funds have recently bought and sold shares of the company. Sei Investments Co. grew its position in Fulton Financial by 19.1% during the 1st quarter. Sei Investments Co. now owns 29,658 shares of the bank’s stock worth $437,000 after acquiring an additional 4,758 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Fulton Financial by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 10,805,481 shares of the bank’s stock valued at $179,591,000 after acquiring an additional 188,471 shares during the period. Yousif Capital Management LLC raised its stake in shares of Fulton Financial by 1.9% during the first quarter. Yousif Capital Management LLC now owns 86,698 shares of the bank’s stock valued at $1,441,000 after acquiring an additional 1,644 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Fulton Financial by 16.6% during the first quarter. Great West Life Assurance Co. Can now owns 93,183 shares of the bank’s stock worth $1,590,000 after purchasing an additional 13,252 shares during the period. Finally, BlackRock Inc. increased its holdings in Fulton Financial by 6.0% during the 1st quarter. BlackRock Inc. now owns 21,821,468 shares of the bank’s stock valued at $362,670,000 after purchasing an additional 1,232,379 shares during the period. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Company Profile

(Get Free Report)

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.

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Dividend History for Fulton Financial (NASDAQ:FULT)

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