Fulton Financial Corporation (NASDAQ:FULT) Plans Quarterly Dividend of $0.18

Key Points

• Fulton Financial Corporation has declared a quarterly dividend of $0.18 per share, which will be paid to stockholders on October 15th, representing an annual dividend yield of 3.8%.
• The company's dividend payout ratio is 35.8%, indicating that its dividend is well-supported by earnings, with expectations to earn $2.10 per share next year.
• Fulton Financial shares traded at $18.81, with a market capitalization of $3.43 billion and a P/E ratio of 11.00.

Fulton Financial Corporation (NASDAQ:FULT - Get Free Report) declared a quarterly dividend on Tuesday, September 16th, RTT News reports. Stockholders of record on Wednesday, October 1st will be paid a dividend of 0.18 per share by the bank on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%.

Fulton Financial has a dividend payout ratio of 35.8% 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 Stock Performance

Shares of FULT traded down $0.26 during trading hours on Tuesday, reaching $18.81. 1,536,306 shares of the company traded hands, compared to its average volume of 1,163,272. The stock has a market capitalization of $3.43 billion, a P/E ratio of 11.00 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. Fulton Financial has a 12-month low of $14.32 and a 12-month high of $22.49. The business has a fifty day moving average price of $18.93 and a 200-day moving average price of $17.94.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.12. The firm had revenue of $328.45 million for the quarter, compared to analyst estimates of $320.47 million. Fulton Financial had a net margin of 17.00% and a return on equity of 12.64%. During the same period in the previous year, the company earned $0.52 earnings per share. Equities analysts anticipate that Fulton Financial will post 1.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FULT shares. Keefe, Bruyette & Woods boosted their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Piper Sandler reissued a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Jefferies Financial Group reissued a "hold" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Finally, DA Davidson boosted their price objective on shares of Fulton Financial from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $21.13.

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.

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