Fulton Financial (NASDAQ:FULT) Cut to Sell at StockNews.com

StockNews.com lowered shares of Fulton Financial (NASDAQ:FULT) from a hold rating to a sell rating in a report released on Monday morning.

Separately, Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.83.

Fulton Financial Stock Performance

FULT stock opened at $21.12 on Monday. The business’s fifty day moving average is $18.28 and its 200-day moving average is $17.77. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.84 billion, a P/E ratio of 13.37 and a beta of 0.73. Fulton Financial has a twelve month low of $13.84 and a twelve month high of $21.65.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The business had revenue of $487.33 million during the quarter, compared to analysts’ expectations of $321.00 million. During the same quarter in the prior year, the company earned $0.43 EPS. Equities research analysts forecast that Fulton Financial will post 1.74 EPS for the current year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 43.04%.

Hedge Funds Weigh In On Fulton Financial

Large investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its holdings in Fulton Financial by 70.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 79,410 shares of the bank’s stock worth $1,262,000 after purchasing an additional 32,941 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Fulton Financial in the 1st quarter valued at about $452,000. BNP Paribas Financial Markets grew its holdings in shares of Fulton Financial by 78.8% in the 1st quarter. BNP Paribas Financial Markets now owns 83,162 shares of the bank’s stock valued at $1,321,000 after acquiring an additional 36,663 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Fulton Financial in the 1st quarter valued at about $1,941,000. Finally, Tidal Investments LLC bought a new position in shares of Fulton Financial in the 1st quarter valued at about $807,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Company Profile

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.