Fulton Financial Corporation (FULT) Given Average Recommendation of “Hold” by Analysts
Fulton Financial Corporation (NASDAQ:FULT) has received an average recommendation of “Hold” from the seven analysts that are covering the company. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.00.
Several analysts have recently weighed in on FULT shares. Hovde Group cut Fulton Financial Corporation from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $16.50 to $19.00 in a report on Friday, November 18th. Barclays PLC cut Fulton Financial Corporation from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $13.00 to $17.00 in a report on Tuesday, December 6th. Zacks Investment Research raised Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, September 20th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Fulton Financial Corporation in a research note on Wednesday, October 12th. Finally, FBR & Co lifted their price objective on Fulton Financial Corporation from $14.00 to $15.00 and gave the stock a “mkt perform” rating in a research note on Thursday, October 20th.
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Shares of Fulton Financial Corporation (NASDAQ:FULT) opened at 18.80 on Monday. The company’s 50-day moving average price is $18.66 and its 200-day moving average price is $15.36. Fulton Financial Corporation has a 1-year low of $11.48 and a 1-year high of $19.45. The company has a market capitalization of $3.26 billion, a PE ratio of 20.66 and a beta of 1.04.
Fulton Financial Corporation (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, October 18th. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The company had revenue of $130.57 million for the quarter, compared to analysts’ expectations of $136.49 million. Fulton Financial Corporation had a return on equity of 7.57% and a net margin of 20.23%. The business’s quarterly revenue was down 23.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 earnings per share. On average, equities analysts expect that Fulton Financial Corporation will post $0.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Tuesday, January 3rd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.13%. The ex-dividend date was Thursday, December 29th. Fulton Financial Corporation’s dividend payout ratio (DPR) is presently 43.96%.
In other Fulton Financial Corporation news, EVP Angela M. Sargent sold 15,192 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $17.50, for a total value of $265,860.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Meg R. Mueller sold 13,828 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $17.66, for a total value of $244,202.48. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors raised its position in shares of Fulton Financial Corporation by 6.1% in the third quarter. BlackRock Fund Advisors now owns 9,400,145 shares of the company’s stock valued at $136,490,000 after buying an additional 540,610 shares during the period. Fulton Bank N.A. increased its stake in Fulton Financial Corporation by 3.4% in the third quarter. Fulton Bank N.A. now owns 1,865,276 shares of the company’s stock valued at $27,084,000 after buying an additional 61,616 shares in the last quarter. Foundry Partners LLC increased its stake in Fulton Financial Corporation by 3.1% in the third quarter. Foundry Partners LLC now owns 934,695 shares of the company’s stock valued at $13,572,000 after buying an additional 28,319 shares in the last quarter. Hancock Holding Co. increased its stake in Fulton Financial Corporation by 25.3% in the third quarter. Hancock Holding Co. now owns 330,043 shares of the company’s stock valued at $4,792,000 after buying an additional 66,735 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Fulton Financial Corporation by 20.4% in the third quarter. Prudential Financial Inc. now owns 976,323 shares of the company’s stock valued at $14,176,000 after buying an additional 165,660 shares in the last quarter. 59.14% of the stock is currently owned by hedge funds and other institutional investors.
Fulton Financial Corporation Company Profile
Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.
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