Fulton Financial (FULT) Declares $0.16 Dividend
Fulton Financial said on June 20, 2023 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Previously, the company paid $0.15 per share.
Shares must be purchased before the ex-div date of June 30, 2023 to qualify for the dividend. Shareholders of record as of July 3, 2023 will receive the payment on July 14, 2023.
At the current share price of $12.03 / share, the stock's dividend yield is 5.32%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.96%, the lowest has been 2.80%, and the highest has been 6.46%. The standard deviation of yields is 0.80 (n=236).
The current dividend yield is 1.69 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.38. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.18%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 592 funds or institutions reporting positions in Fulton Financial. This is a decrease of 14 owner(s) or 2.31% in the last quarter. Average portfolio weight of all funds dedicated to FULT is 0.10%, a decrease of 20.16%. Total shares owned by institutions decreased in the last three months by 1.58% to 125,983K shares. 
The put/call ratio of FULT is 2.00, indicating a bearish outlook.
Analyst Price Forecast Suggests 21.13% Upside
As of June 2, 2023, the average one-year price target for Fulton Financial is 14.57. The forecasts range from a low of 12.12 to a high of $16.28. The average price target represents an increase of 21.13% from its latest reported closing price of 12.03.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Fulton Financial is 925MM, a decrease of 7.48%. The projected annual non-GAAP EPS is 2.00.
What are Other Shareholders Doing?
IJH - iShares Core S&P Mid-Cap ETF holds 5,170K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 5,172K shares, representing a decrease of 0.04%. The firm decreased its portfolio allocation in FULT by 21.44% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,154K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 5,137K shares, representing an increase of 0.34%. The firm decreased its portfolio allocation in FULT by 23.92% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,383K shares representing 2.65% ownership of the company. In it's prior filing, the firm reported owning 4,315K shares, representing an increase of 1.56%. The firm decreased its portfolio allocation in FULT by 19.94% over the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 4,000K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 4,147K shares, representing a decrease of 3.68%. The firm decreased its portfolio allocation in FULT by 23.30% over the last quarter.
IWM - iShares Russell 2000 ETF holds 3,572K shares representing 2.16% ownership of the company. In it's prior filing, the firm reported owning 3,785K shares, representing a decrease of 5.97%. The firm decreased its portfolio allocation in FULT by 19.04% over the last quarter.
Fulton Financial Background Information
(This description is provided by the company.)
Fulton, a $25.5 billion, Lancaster, Pa.-based financial holding company, has approximately 3,400 employees and operates approximately 225 branches in Pennsylvania, Maryland, Delaware, New Jersey and Virginia through Fulton Bank, N.A.
Key filings for this company:
This story originally appeared on Fintel.