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Fulton Financial Rewards Shareholders with 1% Dividend Hike

Zacks Equity Research

Fulton Financial Corporation FULT recently announced a 1% hike in its regular quarterly cash dividend. The new dividend of 11 cents per share will be paid on Apr 14, to shareholders on record as of Apr 3.

Notably, the company has been increasing dividends since 2011. Fulton Financial increased its dividend 11% from the previous payout in Jun 2016.

After the announcement of the hike on Mar 21, the company’s share price dropped 0.5% due to the bearish trend in the markets. Also, Fulton Financial’s shares have increased 17.8% over the last six months, underperforming the Zacks categorized Banks- Northeast industry’s growth of 20.7%

Let’s have a look at the company’s financials:

Earnings Strength: In the past three to five years, Fulton Financial witnessed earnings per share (EPS) growth of 8.21%. Also, the company’s earnings are projected to grow nearly 7.74% in 2017.

Leverage: Fulton Financial’s debt/equity ratio is 0.44 compared with the industry average of 0.58.

Return on Equity (ROE): ItsROE is 7.63% compared with the industry average of 9.23%,

Share Price Movement: .

 

Currently, Fulton Financial carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (StongBuy) Rank stocks here.

Some other stocks worth considering in the finance space include Bank of America Corp. BAC, Lazard Ltd LAZ and Apollo Global Management, LLC APO. All these stocks carry the same Zacks Rank as Fulton Financial.

Bank of America witnessed an upward earnings estimate revision of 1.2% for the current year, overthe last 60 days. Its share price rose over 47.8% in the last six months.

Lazard’s current-year earnings estimates have been revised 2.9% upward over the last 60 days. Its share price increased 21.7%, in the last six months.

Apollo Global witnessed an upward earnings estimate revision of 9.8% for the current year, in the last 60 days. Its share price rose 32.0% in the last six months.

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Bank of America Corporation (BAC): Free Stock Analysis Report
 
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