Fulton Financial Corporation (FULT) To Go Ex-Dividend on July 1st

Fulton Financial Corporation (NASDAQ:FULT) declared a quarterly dividend on Tuesday, June 16th. Shareholders of record on Wednesday, July 1st will be given a dividend of 0.19 per share by the bank on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, July 1st.

Fulton Financial has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. Fulton Financial has a payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Fulton Financial to earn $2.34 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 32.5%.

Fulton Financial Price Performance

Shares of FULT stock opened at $24.21 on Monday. The firm has a market cap of $4.63 billion, a P/E ratio of 11.53 and a beta of 0.80. Fulton Financial has a fifty-two week low of $16.60 and a fifty-two week high of $24.44. The business’s 50 day moving average price is $21.99 and its 200-day moving average price is $21.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.The firm had revenue of $331.86 million for the quarter, compared to analysts’ expectations of $359.36 million. During the same period in the previous year, the firm earned $0.52 earnings per share. On average, equities research analysts anticipate that Fulton Financial will post 2.18 earnings per share for the current year.

Wall Street Analyst Weigh In

FULT has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 3rd. Weiss Ratings raised shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $24.00 target price on shares of Fulton Financial in a research note on Monday, April 27th. Finally, Piper Sandler set a $23.00 price target on shares of Fulton Financial and gave the company a “neutral” rating in a research report on Friday, June 12th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Fulton Financial presently has a consensus rating of “Hold” and an average target price of $23.00.

About Fulton Financial

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.