BidaskClub cut shares of Fulton Financial (NASDAQ:FULT) from a buy rating to a hold rating in a research report report published on Friday.

FULT has been the topic of a number of other reports. ValuEngine lowered shares of Fulton Financial from a hold rating to a sell rating in a research report on Monday, September 24th. Zacks Investment Research upgraded shares of Fulton Financial from a hold rating to a buy rating and set a $20.00 target price on the stock in a research report on Wednesday, August 29th. Boenning Scattergood reiterated a hold rating on shares of Fulton Financial in a research report on Wednesday, October 17th. Finally, Barclays upgraded shares of Fulton Financial from an underweight rating to an overweight rating and upped their target price for the stock from $18.00 to $19.00 in a research report on Wednesday, October 3rd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $18.83.

Shares of FULT stock opened at $16.30 on Friday. Fulton Financial has a 1 year low of $15.05 and a 1 year high of $19.55. The company has a market cap of $2.88 billion, a PE ratio of 14.47, a P/E/G ratio of 1.70 and a beta of 0.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, October 16th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.04. Fulton Financial had a net margin of 20.45% and a return on equity of 8.89%. The company had revenue of $214.23 million for the quarter, compared to analyst estimates of $209.72 million. During the same period in the prior year, the business earned $0.28 earnings per share. Research analysts predict that Fulton Financial will post 1.2 EPS for the current year.

The firm also recently disclosed a special dividend, which will be paid on Friday, December 14th. Investors of record on Monday, December 3rd will be issued a $0.04 dividend. This is a positive change from Fulton Financial’s previous special dividend of $0.03. This represents a yield of 2.89%. The ex-dividend date is Friday, November 30th. Fulton Financial’s dividend payout ratio is currently 44.86%.

In other Fulton Financial news, Director Ernest J. Waters acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The shares were acquired at an average cost of $16.71 per share, for a total transaction of $33,420.00. Following the completion of the acquisition, the director now directly owns 27,793 shares of the company’s stock, valued at approximately $464,421.03. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald H. Spair acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The stock was acquired at an average price of $16.73 per share, for a total transaction of $167,300.00. The disclosure for this purchase can be found here. Insiders purchased 18,002 shares of company stock worth $300,773 over the last 90 days. 0.84% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in FULT. SRS Capital Advisors Inc. acquired a new position in Fulton Financial in the third quarter valued at approximately $105,000. Tower Research Capital LLC TRC lifted its holdings in Fulton Financial by 223.8% in the third quarter. Tower Research Capital LLC TRC now owns 7,502 shares of the bank’s stock valued at $125,000 after buying an additional 5,185 shares during the period. Jane Street Group LLC acquired a new position in Fulton Financial in the third quarter valued at approximately $168,000. Raymond James & Associates acquired a new position in Fulton Financial in the second quarter valued at approximately $180,000. Finally, Martingale Asset Management L P acquired a new position in Fulton Financial in the third quarter valued at approximately $201,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.

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Analyst Recommendations for Fulton Financial (NASDAQ:FULT)

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