Fulton Financial Corporation (NASDAQ:FULT) Given Average Rating of “Hold” by Brokerages

Shares of Fulton Financial Corporation (NASDAQ:FULT) have been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $23.00.

A number of research analysts recently issued reports on FULT shares. Wall Street Zen downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 3rd. Piper Sandler set a $23.00 price objective on Fulton Financial and gave the company a “neutral” rating in a research note on Friday. Raymond James Financial reiterated an “outperform” rating and set a $24.00 price objective on shares of Fulton Financial in a research note on Monday, April 27th. Weiss Ratings upgraded Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, DA Davidson initiated coverage on Fulton Financial in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 price target for the company.

Fulton Financial Trading Up 0.9%

Shares of NASDAQ:FULT opened at $23.10 on Wednesday. The stock has a 50 day moving average of $21.67 and a 200 day moving average of $20.78. The company has a market cap of $4.42 billion, a PE ratio of 11.00 and a beta of 0.80. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06. Fulton Financial has a 12-month low of $16.60 and a 12-month high of $23.66.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The company had revenue of $331.86 million during the quarter, compared to the consensus estimate of $359.36 million. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.During the same period in the previous year, the company posted $0.52 EPS. As a group, equities research analysts expect that Fulton Financial will post 2.18 EPS for the current year.

Fulton Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, July 1st. Fulton Financial’s dividend payout ratio is presently 36.19%.

Insiders Place Their Bets

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $21.42, for a total value of $107,100.00. Following the completion of the transaction, the director directly owned 80,477 shares in the company, valued at $1,723,817.34. This represents a 5.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FULT. Kestra Advisory Services LLC bought a new position in Fulton Financial in the 4th quarter worth approximately $25,000. Root Financial Partners LLC boosted its stake in Fulton Financial by 89.9% in the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock worth $26,000 after purchasing an additional 607 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in Fulton Financial in the 4th quarter worth approximately $27,000. V Square Quantitative Management LLC bought a new position in Fulton Financial in the 4th quarter worth approximately $28,000. Finally, Torren Management LLC bought a new position in Fulton Financial in the 4th quarter worth approximately $28,000. 72.02% of the stock is currently owned by 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.