Fulton Financial Corporation (NASDAQ:FULT) Given Average Recommendation of “Hold” by Brokerages

Shares of Fulton Financial Corporation (NASDAQ:FULT) have earned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $21.50.

A number of research firms have recently commented on FULT. Weiss Ratings raised shares of Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 27th. DA Davidson began coverage on shares of Fulton Financial in a report on Wednesday, February 25th. They set a “neutral” rating and a $24.00 price objective for the company.

Fulton Financial Stock Performance

Shares of NASDAQ FULT opened at $20.53 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 9.87 and a beta of 0.81. The business’s 50-day simple moving average is $20.82 and its 200-day simple moving average is $19.46. Fulton Financial has a 52 week low of $14.32 and a 52 week high of $22.99.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Wednesday, January 21st. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The firm had revenue of $336.02 million during the quarter, compared to analyst estimates of $336.80 million. Fulton Financial had a return on equity of 12.78% and a net margin of 20.68%.During the same period in the previous year, the company earned $0.48 EPS. As a group, equities research analysts expect that Fulton Financial will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, April 1st. Fulton Financial’s dividend payout ratio is 36.54%.

Fulton Financial announced that its board has initiated a share buyback plan on Tuesday, December 16th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the bank to purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $19.55, for a total value of $97,750.00. Following the transaction, the director directly owned 85,477 shares in the company, valued at approximately $1,671,075.35. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.08% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new stake in shares of Fulton Financial in the fourth quarter valued at approximately $25,000. Eurizon Capital SGR S.p.A. bought a new position in Fulton Financial during the fourth quarter worth $27,000. V Square Quantitative Management LLC bought a new position in Fulton Financial during the fourth quarter worth $28,000. Torren Management LLC acquired a new position in Fulton Financial during the 4th quarter valued at $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Fulton Financial during the 4th quarter valued at $28,000. 72.02% of the stock is owned by institutional investors.

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.