Fulton Financial Corporation (FULT) Coverage Initiated at Stephens
Equities research analysts at Stephens started coverage on shares of Fulton Financial Corporation (NASDAQ:FULT) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm set an “equal weight” rating on the bank’s stock.
Several other equities analysts have also recently weighed in on FULT. Keefe, Bruyette & Woods restated a “hold” rating and issued a $18.00 price objective on shares of Fulton Financial Corporation in a report on Friday, June 23rd. BidaskClub upgraded Fulton Financial Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Barclays PLC reiterated a “sell” rating and set a $18.00 price target (up previously from $17.00) on shares of Fulton Financial Corporation in a report on Friday, April 21st. Jefferies Group LLC restated a “hold” rating and set a $20.00 price objective on shares of Fulton Financial Corporation in a research report on Monday, May 15th. Finally, ValuEngine upgraded shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.
Shares of Fulton Financial Corporation (FULT) traded down 0.132% during midday trading on Thursday, hitting $18.875. The stock had a trading volume of 148,362 shares. The stock has a 50 day moving average price of $18.23 and a 200-day moving average price of $18.42. Fulton Financial Corporation has a 52 week low of $13.39 and a 52 week high of $19.90. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 19.661 and a beta of 1.16.
Fulton Financial Corporation (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, April 18th. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Fulton Financial Corporation had a return on equity of 7.84% and a net margin of 20.69%. The firm had revenue of $183.15 million for the quarter, compared to the consensus estimate of $184.36 million. During the same quarter last year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Fulton Financial Corporation will post $1.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, July 3rd were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.33%. The ex-dividend date was Thursday, June 29th. Fulton Financial Corporation’s dividend payout ratio is presently 45.83%.
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In other news, EVP Meg R. Mueller sold 3,266 shares of the firm’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $18.90, for a total transaction of $61,727.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.68% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fulton Financial Corporation by 64.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,202 shares of the bank’s stock valued at $129,000 after buying an additional 2,824 shares during the period. River Wealth Advisors LLC purchased a new stake in shares of Fulton Financial Corporation during the first quarter valued at $182,000. Capital Fund Management S.A. purchased a new stake in shares of Fulton Financial Corporation during the first quarter valued at $184,000. Jane Street Group LLC purchased a new stake in shares of Fulton Financial Corporation during the first quarter valued at $184,000. Finally, Invictus RG purchased a new stake in shares of Fulton Financial Corporation during the first quarter valued at $186,000. 61.91% of the stock is owned by hedge funds and other institutional investors.
About Fulton Financial Corporation
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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