Fulton Financial (NASDAQ:FULT) Given “Equal Weight” Rating at Stephens

Stephens reissued their equal weight rating on shares of Fulton Financial (NASDAQ:FULT) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $16.00 target price on the bank’s stock.

FULT has been the topic of several other reports. Keefe, Bruyette & Woods upped their price target on shares of Fulton Financial from $16.00 to $17.00 and gave the company a market perform rating in a report on Thursday, January 18th. StockNews.com raised shares of Fulton Financial from a sell rating to a hold rating in a report on Wednesday, March 13th. Finally, Jefferies Financial Group cut their price target on shares of Fulton Financial from $17.00 to $16.00 and set a hold rating on the stock in a report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Fulton Financial has an average rating of Hold and an average price target of $15.40.

Fulton Financial Trading Up 0.3 %

Shares of FULT stock opened at $14.49 on Wednesday. The firm’s 50 day moving average price is $15.33 and its two-hundred day moving average price is $14.88. Fulton Financial has a fifty-two week low of $9.64 and a fifty-two week high of $17.06. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 8.84 and a beta of 0.81.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Wednesday, January 17th. The bank reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $271.38 million for the quarter, compared to analysts’ expectations of $268.70 million. Fulton Financial had a net margin of 18.94% and a return on equity of 12.01%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share. On average, analysts anticipate that Fulton Financial will post 1.52 EPS for the current year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.68 annualized dividend and a yield of 4.69%. Fulton Financial’s payout ratio is 41.46%.

Institutional Trading of Fulton Financial

Institutional investors have recently added to or reduced their stakes in the business. Morton Brown Family Wealth LLC bought a new stake in Fulton Financial during the fourth quarter valued at $26,000. Blue Trust Inc. increased its stake in Fulton Financial by 82.8% during the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock valued at $28,000 after purchasing an additional 781 shares during the last quarter. Strs Ohio bought a new stake in Fulton Financial during the fourth quarter valued at $29,000. Disciplined Equity Management Inc. bought a new stake in Fulton Financial during the fourth quarter valued at $32,000. Finally, Lazard Asset Management LLC increased its stake in Fulton Financial by 1,554.1% during the first quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,067 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

About Fulton Financial

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.