Fulton Financial Corporation (NASDAQ:FULT) to Issue Quarterly Dividend of $0.19

Fulton Financial Corporation (NASDAQ:FULT) declared a quarterly dividend on Tuesday, June 16th. Stockholders 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) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, July 1st.

Fulton Financial has increased its dividend by an average of 0.1%annually 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% meaning 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 Stock Up 0.9%

NASDAQ:FULT opened at $23.10 on Wednesday. Fulton Financial has a 12-month low of $16.60 and a 12-month high of $23.66. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $4.42 billion, a P/E ratio of 11.00 and a beta of 0.80. The stock’s fifty day simple moving average is $21.67 and its 200-day simple moving average is $20.78.

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

Insider Activity

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $21.42, for a total value of $107,100.00. Following the sale, the director owned 80,477 shares of the company’s stock, valued at $1,723,817.34. This trade represents a 5.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.01% of the stock is owned by corporate insiders.

Institutional Trading of Fulton Financial

Several hedge funds and other institutional investors have recently modified their holdings of FULT. Kestra Advisory Services LLC acquired a new stake in shares of Fulton Financial in the 4th quarter valued at about $25,000. Root Financial Partners LLC increased its position in shares of Fulton Financial by 89.9% in the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after acquiring an additional 607 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Fulton Financial in the fourth quarter valued at about $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Fulton Financial in the fourth quarter valued at about $28,000. Finally, Torren Management LLC acquired a new stake in shares of Fulton Financial in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

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.