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

Fulton Financial Corporation (NASDAQ:FULT) announced a quarterly dividend on Tuesday, March 17th. Investors of record on Wednesday, April 1st will be given a dividend of 0.19 per share by the bank on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, April 1st.

Fulton Financial has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Fulton Financial has a payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Fulton Financial to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 36.2%.

Fulton Financial Price Performance

FULT stock opened at $19.60 on Wednesday. Fulton Financial has a 52 week low of $14.32 and a 52 week high of $22.99. The firm has a market capitalization of $3.53 billion, a P/E ratio of 9.42 and a beta of 0.85. The company has a fifty day simple moving average of $20.82 and a two-hundred day simple moving average of $19.42. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.08.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Wednesday, January 21st. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. Fulton Financial had a net margin of 20.68% and a return on equity of 12.78%. The firm had revenue of $336.02 million for the quarter, compared to analysts’ expectations of $336.80 million. During the same period in the prior year, the company earned $0.48 EPS. Analysts anticipate that Fulton Financial will post 1.91 earnings per share for the current fiscal year.

Fulton Financial announced that its board has authorized a stock buyback plan on Tuesday, December 16th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.