Fulton Financial (FULT) Downgraded by BidaskClub to “Strong Sell”
BidaskClub lowered shares of Fulton Financial (NASDAQ:FULT) from a sell rating to a strong sell rating in a research report sent to investors on Saturday morning.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research raised 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. Barclays lifted their price target on shares of Fulton Financial from $18.00 to $19.00 and gave the stock an underweight rating in a research note on Tuesday, January 2nd. Piper Jaffray Companies restated a hold rating and issued a $18.00 price target on shares of Fulton Financial in a research note on Thursday, October 19th. Keefe, Bruyette & Woods restated a hold rating and issued a $17.00 price target on shares of Fulton Financial in a research note on Thursday, October 19th. Finally, Jefferies Group restated a hold rating and issued a $20.00 price target on shares of Fulton Financial in a research note on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $18.80.
Fulton Financial (NASDAQ FULT) traded up $0.18 during midday trading on Friday, hitting $18.18. 826,982 shares of the stock were exchanged, compared to its average volume of 916,157. Fulton Financial has a twelve month low of $16.45 and a twelve month high of $19.90. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3,182.84, a PE ratio of 17.65 and a beta of 1.17.
Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, October 17th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Fulton Financial had a net margin of 21.15% and a return on equity of 8.28%. The business had revenue of $194.19 million for the quarter, compared to analysts’ expectations of $200.00 million. During the same period in the previous year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. equities analysts forecast that Fulton Financial will post 1.03 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.42%. Fulton Financial’s dividend payout ratio (DPR) is presently 42.72%.
Several large investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of Fulton Financial by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,522 shares of the bank’s stock worth $295,000 after buying an additional 77 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Fulton Financial by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,513 shares of the bank’s stock valued at $485,000 after purchasing an additional 82 shares during the last quarter. Amalgamated Bank increased its stake in Fulton Financial by 0.8% during the second quarter. Amalgamated Bank now owns 24,388 shares of the bank’s stock valued at $463,000 after purchasing an additional 195 shares during the last quarter. Sei Investments Co. increased its stake in Fulton Financial by 3.8% during the second quarter. Sei Investments Co. now owns 10,378 shares of the bank’s stock valued at $198,000 after purchasing an additional 377 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in Fulton Financial by 5.3% during the second quarter. Advisor Group Inc. now owns 8,336 shares of the bank’s stock valued at $158,000 after purchasing an additional 417 shares during the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.
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Fulton Financial Company Profile
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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