Brokerages Set Fulton Financial Corporation (NASDAQ:FULT) Target Price at $24.75

Shares of Fulton Financial Corporation (NASDAQ:FULT) have been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $24.75.

A number of brokerages recently issued reports on FULT. Raymond James Financial boosted their target price on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Wall Street Zen raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. DA Davidson raised their price target on shares of Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Piper Sandler restated a “neutral” rating and set a $27.00 price objective (up from $23.00) on shares of Fulton Financial in a report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fulton Financial in a research report on Wednesday, July 29th.

Fulton Financial Stock Performance

FULT opened at $24.40 on Thursday. 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 stock’s 50 day moving average price is $23.91 and its two-hundred day moving average price is $22.09. The firm has a market capitalization of $4.66 billion, a P/E ratio of 11.67 and a beta of 0.79. Fulton Financial has a 12-month low of $16.60 and a 12-month high of $25.23.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.76 annualized dividend and a yield of 3.1%. Fulton Financial’s dividend payout ratio is 36.36%.

Insiders Place Their Bets

In related news, Director Lisa Crutchfield sold 4,100 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $24.80, for a total value of $101,680.00. Following the completion of the transaction, the director directly owned 7,838 shares of the company’s stock, valued at $194,382.40. This trade represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director E Philip Wenger sold 5,000 shares of the stock in a transaction on Monday, July 13th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the completion of the transaction, the director owned 75,477 shares of the company’s stock, valued at approximately $1,822,014.78. This represents a 6.21% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On Fulton Financial

A number of institutional investors have recently added to or reduced their stakes in FULT. Keybank National Association OH grew its position in Fulton Financial by 1.5% in the first quarter. Keybank National Association OH now owns 32,887 shares of the bank’s stock valued at $669,000 after acquiring an additional 485 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Fulton Financial by 2.6% during the first quarter. Cetera Investment Advisers now owns 21,829 shares of the bank’s stock valued at $444,000 after acquiring an additional 557 shares during the period. State of Wyoming boosted its stake in shares of Fulton Financial by 13.4% in the 1st quarter. State of Wyoming now owns 4,829 shares of the bank’s stock valued at $98,000 after purchasing an additional 570 shares in the last quarter. Root Financial Partners LLC boosted its stake in shares of Fulton Financial by 89.9% in the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after purchasing an additional 607 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of Fulton Financial by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 99,907 shares of the bank’s stock worth $1,930,000 after purchasing an additional 678 shares during the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

About Fulton Financial

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.