Fulton Financial Co. (NASDAQ:FULT) Receives $20.64 Consensus PT from Analysts

Shares of Fulton Financial Co. (NASDAQ:FULT) have been given an average recommendation of “Hold” by the six research firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.64.

Several equities analysts recently commented on the company. Hovde Group increased their target price on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a report on Monday, January 27th. Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods increased their price target on shares of Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, January 23rd. Finally, DA Davidson boosted their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th.

Fulton Financial Price Performance

FULT stock opened at $17.97 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $3.27 billion, a P/E ratio of 11.45 and a beta of 0.76. The business’s 50-day moving average is $19.50 and its two-hundred day moving average is $19.45. Fulton Financial has a 1 year low of $13.87 and a 1 year high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same period in the previous year, the business earned $0.42 EPS. Analysts anticipate that Fulton Financial will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.01%. Fulton Financial’s dividend payout ratio (DPR) is presently 45.86%.

Insider Activity

In related news, President Angela M. Snyder sold 13,322 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the transaction, the president now owns 63,682 shares of the company’s stock, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.07% of the company’s stock.

Institutional Trading of Fulton Financial

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Fulton Financial during the fourth quarter worth approximately $38,010,000. Millennium Management LLC raised its position in Fulton Financial by 149.9% during the 4th quarter. Millennium Management LLC now owns 1,478,735 shares of the bank’s stock worth $28,510,000 after buying an additional 886,991 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Fulton Financial by 137.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank’s stock worth $25,500,000 after acquiring an additional 765,313 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Fulton Financial by 133.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,239,500 shares of the bank’s stock valued at $23,898,000 after acquiring an additional 709,015 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Fulton Financial by 61.7% during the fourth quarter. First Trust Advisors LP now owns 1,770,377 shares of the bank’s stock worth $34,133,000 after acquiring an additional 675,819 shares during the period. 72.02% of the stock is owned by institutional investors and hedge funds.

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.