KBW is out with its report today on Fulton Financial Corp. FULT, raising its PT to $10.
In a note to clients, KBW writes, "After the close, Fulton announced a 33% increase in its quarterly cash dividend to $0.04 per share (from $0.03). The increase implies a bump up in the reported payout ratio to 25% (from 19%). We believe the dividend increase reflects management's growing confidence in its credit outlook and a favorable margin trend that should enhance earnings power in the near term."
KBW maintains Market Perform on FULT.
Shares of FULT closed Tuesday at $10.79, down 0.55%.
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