Fulton Financial Corporation (NASDAQ:FULT) Receives Consensus Recommendation of “Hold” from Analysts

by · The Markets Daily

Shares of Fulton Financial Corporation (NASDAQ:FULT – Get Free Report) have earned an average rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and three 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 $21.10.

A number of analysts have commented on FULT shares. Keefe, Bruyette & Woods increased their price target on shares of Fulton Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research note on Thursday, July 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fulton Financial in a research note on Wednesday. DA Davidson raised their price objective on Fulton Financial from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Piper Sandler reaffirmed a “neutral” rating on shares of Fulton Financial in a report on Wednesday, July 9th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Fulton Financial in a research note on Wednesday, July 9th.

Read Our Latest Stock Analysis on FULT

Fulton Financial Stock Performance

Shares of NASDAQ FULT opened at $18.33 on Friday. The stock has a 50 day moving average price of $18.83 and a 200 day moving average price of $18.00. Fulton Financial has a 52 week low of $14.32 and a 52 week high of $22.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $3.34 billion, a PE ratio of 10.72 and a beta of 0.82.

Fulton Financial (NASDAQ:FULT – Get Free Report) last issued its quarterly earnings results on Tuesday, November 8th. The bank reported $0.45 EPS for the quarter. The firm had revenue of $236.96 million during the quarter. Fulton Financial had a return on equity of 12.64% and a net margin of 17.00%. Analysts predict that Fulton Financial will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.72 annualized dividend and a yield of 3.9%. Fulton Financial’s dividend payout ratio (DPR) is 42.11%.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $19.28, for a total transaction of $96,400.00. Following the completion of the sale, the director directly owned 90,477 shares in the company, valued at $1,744,396.56. This trade represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fulton Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Fulton Financial by 373.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank’s stock worth $30,000 after purchasing an additional 1,311 shares in the last quarter. State of Wyoming acquired a new stake in Fulton Financial in the 2nd quarter worth about $30,000. Quarry LP raised its position in shares of Fulton Financial by 1,669.6% in the first quarter. Quarry LP now owns 1,982 shares of the bank’s stock valued at $36,000 after buying an additional 1,870 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Fulton Financial by 42.2% in the first quarter. GAMMA Investing LLC now owns 3,072 shares of the bank’s stock valued at $56,000 after buying an additional 911 shares in the last quarter. Finally, Byrne Asset Management LLC raised its holdings in Fulton Financial by 114.5% in the 1st quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank’s stock valued at $58,000 after acquiring an additional 1,717 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Company Profile

(Get Free Report)

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.

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