Fulton Financial Corporation (NASDAQ:FULT) Declares $0.19 Quarterly Dividend

Fulton Financial Corporation (NASDAQ:FULT) announced a quarterly dividend on Tuesday, September 15th. Shareholders of record on Thursday, October 1st will be paid a dividend of 0.19 per share by the bank on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, October 1st.

Fulton Financial has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Fulton Financial has a dividend 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

FULT stock opened at $23.75 on Wednesday. The firm’s 50-day moving average price is $24.13 and its two-hundred day moving average price is $22.47. Fulton Financial has a 12-month low of $16.60 and a 12-month high of $25.23. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 11.36 and a beta of 0.78. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Wednesday, July 22nd. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.07. Fulton Financial had a net margin of 20.63% and a return on equity of 12.68%. The company had revenue of $367.87 million during the quarter, compared to analyst estimates of $358.83 million. During the same period in the prior year, the business posted $0.55 earnings per share. Fulton Financial’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities analysts predict that Fulton Financial will post 2.23 earnings per share for the current year.

Insider Buying and Selling

In other Fulton Financial news, Director Lisa Crutchfield sold 4,100 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $24.80, for a total value of $101,680.00. Following the sale, the director directly owned 7,838 shares of the company’s stock, valued at approximately $194,382.40. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director E. Wenger sold 5,000 shares of the stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the sale, the director directly owned 75,477 shares in the company, valued at $1,822,014.78. This trade represents a 6.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.01% of the stock is owned by company insiders.

Institutional Trading of Fulton Financial

Several institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC boosted its position in shares of Fulton Financial by 89.9% during the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after buying an additional 607 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Fulton Financial during the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Fulton Financial during the fourth quarter valued at $28,000. Axiom Investment Management LLC bought a new position in Fulton Financial in the first quarter valued at about $28,000. Finally, Entrust Financial LLC bought a new position in Fulton Financial in the fourth quarter valued at about $50,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Company Profile

Fulton Financial Corporation (NASDAQ:FULT) is a bank holding company headquartered in Lancaster, Pennsylvania. Its primary subsidiary, Fulton Bank, provides banking and financial services to consumers, businesses and institutions.

The company offers deposit accounts, residential and commercial lending, mortgages, treasury management, cash management and other commercial banking services. Through its broader financial services platform, Fulton also provides wealth management, investment services and insurance solutions.

Fulton serves customers through branches and digital channels across Pennsylvania, Delaware, Maryland, New Jersey and Virginia.