Fulton Financial Co. (NASDAQ:FULT) posts quarterly dividend of $0.15

Fulton Financial Co. (NASDAQ:FULT – Get Rating) declared a quarterly dividend on Tuesday, June 21, Zacks reports. Investors of record on Friday 1st July will receive a dividend of 0.15 per share from the bank on Friday 15th July. That equates to a dividend of $0.60 on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Thursday June 30th.

Fulton Financial has increased its dividend by an average of 7.2% per year for the past three years, and has increased its dividend every year for the past two years. Fulton Financial has a dividend payout ratio of 35.1%, which means its dividend is sufficiently backed by earnings. Research analysts expect Fulton Financial to earn $1.72 per share over the next year, meaning the company should still be able to deliver its $0.60 annual dividend with an expected future payout ratio of 34.9%.

NASDAQ FULT shares opened at $14.61 on Thursday. The company has a debt to equity ratio of 0.23, a quick ratio of 0.89 and a current ratio of 0.89. Fulton Financial has a 52-week low of $14.11 and a 52-week high of $19.17. The stock has a market cap of $2.35 billion, a P/E of 9.25 and a beta of 0.74. The stock’s 50-day moving average is $15.42 and its 200-day moving average is $16.74.

Fulton Financial (NASDAQ:FULT – Get Rating) last released its quarterly earnings results on Tuesday, April 19th. The bank reported $0.38 per share for the quarter, beating analysts’ consensus estimate of $0.32 by $0.06. Fulton Financial had a return on equity of 10.77% and a net margin of 28.22%. The company had revenue of $219.85 million for the quarter, compared to analysts’ expectations of $221.61 million. In the same quarter last year, the company generated earnings per share of $0.43. Equity analysts are forecasting Fulton Financial to report year-to-date earnings per share of 1.57.

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In addition, EVP David M. Campbell sold 5,156 shares of the company’s shares in a transaction on Monday, May 23. The stock sold at an average price of $15.51 for a total transaction of $79,969.56. Following the sale, the Executive Vice President now directly owns 22,202 shares of the company, valued at $344,353.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC’s website. Insiders own 1.01% of the company’s stock.

Several major investors have recently added to or reduced their stakes in FULT. BlackRock Inc. increased its holdings of Fulton Financial shares by 6.0% in the first quarter. BlackRock Inc. now owns 21,821,468 shares of the bank valued at $362,670,000 after purchasing an additional 1,232,379 shares last quarter. State Street Corp increased its holdings of Fulton Financial shares by 8.9% in the first quarter. State Street Corp now owns 8,941,860 shares of the bank worth $149,945,000 after purchasing an additional 731,995 shares last quarter. Walleye Capital LLC acquired a new interest in Fulton Financial valued at approximately $5,754,000 during the first quarter. Vanguard Group Inc. increased its holdings of Fulton Financial shares by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,102,336 shares of the bank valued at $267,622,000 after purchasing an additional 276,162 shares last quarter. Finally, Invesco Ltd. increased its stake in Fulton Financial by 38.5% in the first quarter. invesco ltd now owns 711,621 shares of the bank valued at $11,827,000, having purchased an additional 197,900 shares during the period. Institutional investors own 64.05% of the company’s shares.

A number of research analysts have issued reports on FULT stocks. StockNews.com began coverage of Fulton Financial in a research report on Thursday, March 31st. They gave the stock a “hold” rating. Stephens upgraded Fulton Financial from an “Equal Weight” rating to an “Overweight” rating and stated in a research report Thursday, April 21.

Fulton Financial Company Profile (get rating)

Fulton Financial Corporation is a financial holding company that provides consumer and commercial banking products and services. A variety of checking and savings products, certificates of deposit, and individual retirement accounts are accepted. The company also offers secured consumer loans, including home equity loans and lines of credit, auto loans, personal lines of credit, and checking account overdraft protection; home loans and jumbo home mortgage loans; and commercial credit products, which include commercial real estate, commercial and industrial and construction loans, and equipment leasing finance loans.

See also

Dividend History for Fulton Financial (NASDAQ:FULT)

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