Analysts Set Fulton Financial Co. (NASDAQ:FULT) Price Target at $18.83

Shares of Fulton Financial Co. (NASDAQ:FULT) have received an average recommendation of “Hold” from the five research firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $18.83.

FULT has been the topic of several analyst reports. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a research note on Thursday, October 17th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 18th.

Institutional Investors Weigh In On Fulton Financial

A number of institutional investors have recently bought and sold shares of the business. Family Firm Inc. bought a new position in shares of Fulton Financial in the second quarter worth about $46,000. Coston McIsaac & Partners purchased a new position in Fulton Financial in the 3rd quarter worth approximately $54,000. Blue Trust Inc. boosted its stake in Fulton Financial by 21.9% in the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after purchasing an additional 691 shares during the period. Headlands Technologies LLC purchased a new stake in Fulton Financial during the 1st quarter valued at approximately $66,000. Finally, AE Wealth Management LLC bought a new stake in shares of Fulton Financial during the second quarter valued at approximately $172,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Down 1.5 %

FULT stock opened at $18.11 on Friday. Fulton Financial has a fifty-two week low of $12.75 and a fifty-two week high of $20.33. The business’s 50-day moving average is $18.12 and its two-hundred day moving average is $17.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 11.46 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The company had revenue of $487.33 million for the quarter, compared to the consensus estimate of $321.00 million. Fulton Financial had a return on equity of 11.14% and a net margin of 16.37%. During the same quarter in the prior year, the company earned $0.43 earnings per share. As a group, analysts forecast that Fulton Financial will post 1.75 earnings per share for the current year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is 43.04%.

About Fulton Financial

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.