Fulton Financial Corporation (NASDAQ:FULT) Receives $21.50 Average Price Target from Analysts
by Michael Walen · The Markets DailyFulton Financial Corporation (NASDAQ:FULT – Get Free Report) has been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $21.50.
A number of analysts recently issued reports on the company. DA Davidson initiated coverage on Fulton Financial in a research note on Wednesday, February 25th. They set a “neutral” rating and a $24.00 target price for the company. Weiss Ratings upgraded shares of Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 27th.
View Our Latest Analysis on FULT
Insider Activity
In related news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $19.55, for a total transaction of $97,750.00. Following the completion of the transaction, the director directly owned 85,477 shares in the company, valued at approximately $1,671,075.35. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.08% of the company’s stock.
Hedge Funds Weigh In On Fulton Financial
A number of large investors have recently bought and sold shares of FULT. Kestra Advisory Services LLC bought a new stake in shares of Fulton Financial in the fourth quarter worth $25,000. Eurizon Capital SGR S.p.A. bought a new position in Fulton Financial in the fourth quarter valued at $27,000. V Square Quantitative Management LLC acquired a new stake in Fulton Financial in the 4th quarter valued at $28,000. Torren Management LLC acquired a new stake in Fulton Financial in the 4th quarter valued at $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Fulton Financial during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 72.02% of the company’s stock.
Fulton Financial Stock Performance
FULT stock opened at $20.53 on Friday. Fulton Financial has a 1-year low of $14.32 and a 1-year high of $22.99. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08. The firm has a market cap of $3.69 billion, a PE ratio of 9.87 and a beta of 0.81. The business’s 50-day moving average price is $20.83 and its two-hundred day moving average price is $19.48.
Fulton Financial (NASDAQ:FULT – Get Free Report) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. Fulton Financial had a return on equity of 12.78% and a net margin of 20.68%.The company had revenue of $336.02 million during the quarter, compared to the consensus estimate of $336.80 million. During the same period in the prior year, the company earned $0.48 earnings per share. As a group, research analysts forecast that Fulton Financial will post 1.91 earnings per share for the current year.
Fulton Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, April 1st. Fulton Financial’s payout ratio is currently 36.54%.
Fulton Financial announced that its Board of Directors has approved a share repurchase plan on Tuesday, December 16th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Fulton Financial Company Profile
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.