Fulton Financial Corp. (FULT) to Issue Quarterly Dividend of $0.10
Fulton Financial Corp. (NASDAQ:FULT) announced a quarterly dividend on Wednesday, September 21st. Stockholders of record on Friday, September 30th will be given a dividend of 0.10 per share on Friday, October 14th. This represents a $0.40 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, September 28th.
Several research firms have recently weighed in on FULT. Zacks Investment Research upgraded Fulton Financial Corp. from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday. Hovde Group began coverage on Fulton Financial Corp. in a research note on Monday, September 12th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, FBR & Co reiterated a “hold” rating on shares of Fulton Financial Corp. in a research note on Wednesday, July 20th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Fulton Financial Corp. has an average rating of “Hold” and an average price target of $13.89.
Shares of Fulton Financial Corp. (NASDAQ:FULT) traded up 1.18% on Wednesday, reaching $14.55. The company’s stock had a trading volume of 1,156,487 shares. The company has a market cap of $2.52 billion, a PE ratio of 16.76 and a beta of 1.28. Fulton Financial Corp. has a 52-week low of $11.48 and a 52-week high of $14.63. The firm has a 50 day moving average of $14.14 and a 200 day moving average of $13.75.
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Fulton Financial Corp. (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, July 19th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Fulton Financial Corp. had a net margin of 19.52% and a return on equity of 7.31%. Analysts predict that Fulton Financial Corp. will post $0.91 earnings per share for the current year.
In other news, COO Philmer H. Rohrbaugh acquired 14,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was acquired at an average cost of $13.96 per share, for a total transaction of $195,440.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Curtis J. Myers sold 15,580 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $14.34, for a total transaction of $223,417.20. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in FULT. BlackRock Institutional Trust Company N.A. increased its position in shares of Fulton Financial Corp. by 3.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,232,975 shares of the company’s stock valued at $70,645,000 after buying an additional 150,581 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Fulton Financial Corp. by 1.3% in the second quarter. BlackRock Fund Advisors now owns 8,859,535 shares of the company’s stock worth $119,604,000 after buying an additional 116,436 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in Fulton Financial Corp. by 9.9% in the second quarter. BlackRock Investment Management LLC now owns 1,219,130 shares of the company’s stock worth $16,458,000 after buying an additional 109,914 shares during the last quarter. Cipher Capital LP boosted its stake in Fulton Financial Corp. by 81.9% in the second quarter. Cipher Capital LP now owns 99,668 shares of the company’s stock worth $1,346,000 after buying an additional 44,873 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in Fulton Financial Corp. during the second quarter worth $577,000. Institutional investors and hedge funds own 59.12% of the company’s stock.
About Fulton Financial Corp.
Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.
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