Analysts Set Fulton Financial Co. (NASDAQ:FULT) PT at $20.30

Shares of Fulton Financial Co. (NASDAQ:FULT) have received a consensus rating of “Hold” from the six research firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $20.30.

Several research analysts have recently issued reports on the company. Piper Sandler lowered their price objective on Fulton Financial from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target on Fulton Financial from $24.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. Finally, DA Davidson restated a “neutral” rating and set a $20.00 price target on shares of Fulton Financial in a report on Wednesday, April 16th.

Fulton Financial Trading Down 1.6%

FULT opened at $17.57 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 11.19 and a beta of 0.77. Fulton Financial has a twelve month low of $14.33 and a twelve month high of $22.49. The company has a 50-day simple moving average of $16.91 and a 200 day simple moving average of $18.76.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The firm had revenue of $322.64 million during the quarter, compared to the consensus estimate of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Analysts predict 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, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Tuesday, April 1st. Fulton Financial’s dividend payout ratio is presently 42.35%.

Institutional Investors Weigh In On Fulton Financial

Several large investors have recently added to or reduced their stakes in FULT. Jones Financial Companies Lllp boosted its stake in Fulton Financial by 193.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock worth $25,000 after purchasing an additional 853 shares during the period. Quarry LP lifted its position in Fulton Financial by 1,669.6% in the 1st quarter. Quarry LP now owns 1,982 shares of the bank’s stock worth $36,000 after buying an additional 1,870 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Fulton Financial by 57.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock worth $42,000 after purchasing an additional 800 shares during the period. McClarren Financial Advisors Inc. bought a new stake in Fulton Financial in the fourth quarter valued at approximately $44,000. Finally, GAMMA Investing LLC lifted its position in Fulton Financial by 42.2% in the first quarter. GAMMA Investing LLC now owns 3,072 shares of the bank’s stock valued at $56,000 after purchasing an additional 911 shares during the last quarter. Hedge funds and other 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.