Fulton Financial Corporation (NASDAQ:FULT) Receives Consensus Rating of “Hold” from Brokerages

Fulton Financial Corporation (NASDAQ:FULT) has been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $21.1250.

FULT has been the subject of several research analyst reports. Piper Sandler reaffirmed a “neutral” rating on shares of Fulton Financial in a report on Wednesday, July 9th. Jefferies Financial Group restated a “hold” rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods upped 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 report on Thursday, July 17th. Finally, DA Davidson raised their price objective on shares of Fulton Financial from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $18.41, for a total value of $92,050.00. Following the sale, the director owned 599,102 shares of the company’s stock, valued at $11,029,467.82. The trade was a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.08% of the company’s stock.

Institutional Investors Weigh In On Fulton Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FULT. Wealth Enhancement Advisory Services LLC lifted its holdings in Fulton Financial by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,303 shares of the bank’s stock worth $657,000 after buying an additional 684 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Fulton Financial in the 1st quarter worth $287,000. Silver Oak Securities Incorporated purchased a new stake in shares of Fulton Financial during the 1st quarter worth $333,000. New York State Teachers Retirement System lifted its stake in shares of Fulton Financial by 1.3% during the 1st quarter. New York State Teachers Retirement System now owns 240,935 shares of the bank’s stock worth $4,359,000 after purchasing an additional 2,985 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Fulton Financial by 50.1% during the fourth quarter. Deutsche Bank AG now owns 154,894 shares of the bank’s stock valued at $2,986,000 after purchasing an additional 51,670 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Trading Down 0.1%

Shares of NASDAQ FULT opened at $18.60 on Thursday. Fulton Financial has a 1 year low of $14.32 and a 1 year high of $22.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50-day moving average of $18.38 and a 200 day moving average of $18.06. The stock has a market cap of $3.39 billion, a P/E ratio of 10.88 and a beta of 0.82.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. Fulton Financial had a return on equity of 12.64% and a net margin of 17.00%.The business had revenue of $328.45 million for the quarter, compared to the consensus estimate of $320.47 million. During the same period in the previous year, the company posted $0.52 earnings per share. As a group, sell-side analysts expect that Fulton Financial will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.72 annualized dividend and a dividend yield of 3.9%. Fulton Financial’s dividend payout ratio (DPR) is currently 42.11%.

Fulton Financial Company Profile

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.