Fulton Financial (NASDAQ:FULT) Price Target Raised to $25.00

Fulton Financial (NASDAQ:FULT) had its price target upped by DA Davidson from $24.00 to $25.00 in a report published on Friday,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

FULT has been the topic of several other research reports. Piper Sandler set a $23.00 target price on Fulton Financial and gave the stock a “neutral” rating in a research note on Friday, June 12th. Wall Street Zen raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, Raymond James Financial boosted their price target on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $23.75.

Fulton Financial Stock Performance

FULT opened at $24.57 on Friday. Fulton Financial has a 52 week low of $16.60 and a 52 week high of $25.23. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $23.12 and a 200-day simple moving average of $21.68. The firm has a market cap of $4.70 billion, a P/E ratio of 11.76 and a beta of 0.79.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.1%. Fulton Financial’s payout ratio is currently 36.36%.

Insider Buying and Selling at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $24.14, for a total value of $120,700.00. Following the sale, the director owned 75,477 shares of the company’s stock, valued at $1,822,014.78. This trade represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On Fulton Financial

A number of large investors have recently modified their holdings of the company. Keybank National Association OH raised its holdings in shares of Fulton Financial by 1.5% in the 1st quarter. Keybank National Association OH now owns 32,887 shares of the bank’s stock valued at $669,000 after purchasing an additional 485 shares in the last quarter. Cetera Investment Advisers increased its holdings in Fulton Financial by 2.6% in the first quarter. Cetera Investment Advisers now owns 21,829 shares of the bank’s stock valued at $444,000 after buying an additional 557 shares during the last quarter. State of Wyoming raised its stake in Fulton Financial by 13.4% in the first quarter. State of Wyoming now owns 4,829 shares of the bank’s stock valued at $98,000 after buying an additional 570 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Fulton Financial by 2.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 23,924 shares of the bank’s stock valued at $467,000 after buying an additional 580 shares in the last quarter. Finally, Root Financial Partners LLC lifted its holdings in Fulton Financial by 89.9% during the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock worth $26,000 after buying an additional 607 shares during the last quarter. 72.02% of the stock is owned by hedge funds and other 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.