Fulton Financial Co. (NASDAQ:FULT) Receives $20.64 Average PT from Brokerages

Shares of Fulton Financial Co. (NASDAQ:FULT) have been given a consensus rating of “Hold” by the six ratings firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $20.64.

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

Fulton Financial Stock Performance

Shares of Fulton Financial stock opened at $18.38 on Monday. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 11.71 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. Fulton Financial has a twelve month low of $13.87 and a twelve month high of $22.49. The company’s fifty day moving average is $19.61 and its 200 day moving average is $19.43.

Fulton Financial (NASDAQ:FULT) last issued its quarterly 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 return on equity of 11.41% and a net margin of 15.87%. During the same period in the previous year, the business earned $0.42 earnings per share. Sell-side analysts forecast that Fulton Financial will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently disclosed 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 is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.92%. Fulton Financial’s dividend payout ratio (DPR) is presently 45.86%.

Insider Activity at Fulton Financial

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares of the company’s stock, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FULT. Norges Bank acquired a new stake in shares of Fulton Financial in the 4th quarter worth about $38,010,000. Millennium Management LLC lifted its position in shares of Fulton Financial by 149.9% during the fourth quarter. Millennium Management LLC now owns 1,478,735 shares of the bank’s stock valued at $28,510,000 after purchasing an additional 886,991 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Fulton Financial by 137.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank’s stock valued at $25,500,000 after purchasing an additional 765,313 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Fulton Financial by 133.7% during the fourth quarter. Nuveen Asset Management LLC now owns 1,239,500 shares of the bank’s stock worth $23,898,000 after purchasing an additional 709,015 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Fulton Financial by 61.7% in the 4th quarter. First Trust Advisors LP now owns 1,770,377 shares of the bank’s stock worth $34,133,000 after purchasing an additional 675,819 shares in the last quarter. Institutional investors and hedge funds 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.