Fulton Financial Corp (NASDAQ:FULT) declared a quarterly dividend on Tuesday, June 16th, Zacks reports. Investors of record on Wednesday, July 1st will be given a dividend of 0.13 per share by the bank on Wednesday, July 15th. This represents a $0.52 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend is Tuesday, June 30th.
Fulton Financial has increased its dividend payment by an average of 35.4% annually over the last three years and has increased its dividend annually for the last 9 consecutive years. Fulton Financial has a payout ratio of 94.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Fulton Financial to earn $1.00 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 52.0%.
NASDAQ FULT opened at $9.82 on Monday. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 8.12 and a beta of 0.96. The company has a 50 day moving average of $10.81 and a 200-day moving average of $13.80. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.60. Fulton Financial has a 1-year low of $8.91 and a 1-year high of $18.00.
A number of brokerages recently commented on FULT. Raymond James upgraded shares of Fulton Financial from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Wednesday, June 17th. Zacks Investment Research raised shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, June 23rd. ValuEngine downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. BidaskClub cut shares of Fulton Financial from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 13th. Finally, Stephens assumed coverage on shares of Fulton Financial in a research report on Monday, June 1st. They set an “equal weight” rating and a $12.00 price objective for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.00.
In other Fulton Financial news, Director James R. Moxley III purchased 8,000 shares of Fulton Financial stock in a transaction dated Thursday, April 30th. The stock was purchased at an average price of $10.99 per share, with a total value of $87,920.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Angela M. Sargent sold 8,172 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $11.59, for a total transaction of $94,713.48. Following the sale, the executive vice president now directly owns 58,902 shares of the company’s stock, valued at approximately $682,674.18. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.
About Fulton Financial
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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