Fulton Financial Co. (NASDAQ:FULT) Receives Average Recommendation of “Hold” from Analysts

Shares of Fulton Financial Co. (NASDAQ:FULT) have been given a consensus recommendation of “Hold” by the five analysts that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $18.83.

Several equities research analysts have recently issued reports on FULT shares. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a research note on Thursday, October 17th. StockNews.com lowered Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th.

Institutional Trading of Fulton Financial

Several large investors have recently made changes to their positions in the company. Millennium Management LLC raised its holdings in Fulton Financial by 511.1% in the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock valued at $55,287,000 after acquiring an additional 2,723,170 shares during the last quarter. Emerald Advisers LLC boosted its stake in Fulton Financial by 213.6% during the third quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock worth $23,706,000 after buying an additional 890,630 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Fulton Financial by 272.2% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank’s stock worth $15,622,000 after buying an additional 630,152 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Fulton Financial by 710.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank’s stock valued at $11,880,000 after buying an additional 613,272 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Fulton Financial by 28.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank’s stock worth $43,164,000 after acquiring an additional 567,771 shares during the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Stock Up 1.7 %

Shares of FULT opened at $21.61 on Tuesday. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 13.68 and a beta of 0.73. Fulton Financial has a 52 week low of $13.84 and a 52 week high of $21.72. The stock’s 50-day moving average price is $18.74 and its 200-day moving average price is $17.98. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $321.00 million. During the same quarter last year, the company earned $0.43 EPS. On average, sell-side analysts predict that Fulton Financial will post 1.74 EPS for the current year.

Fulton Financial Dividend Announcement

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. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.15%. Fulton Financial’s payout ratio is currently 43.04%.

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.