Fulton Financial Corporation (NASDAQ:FULT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Fulton Financial Corporation (NASDAQ:FULT) have been given a consensus rating of “Hold” by the six research firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $23.50.

FULT has been the subject of several recent research reports. Raymond James Financial boosted their target price on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 3rd. Finally, Piper Sandler set a $23.00 price objective on shares of Fulton Financial and gave the stock a “neutral” rating in a report on Friday, June 12th.

Fulton Financial Stock Up 0.2%

Shares of NASDAQ FULT traded up $0.06 during trading hours on Friday, hitting $24.18. The stock had a trading volume of 1,538,305 shares, compared to its average volume of 2,166,514. The company has a market capitalization of $4.62 billion, a P/E ratio of 11.51 and a beta of 0.79. The firm’s 50-day moving average price is $22.47 and its two-hundred day moving average price is $21.34. Fulton Financial has a 52 week low of $16.60 and a 52 week high of $24.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The firm had revenue of $331.86 million for the quarter, compared to the consensus estimate of $359.36 million. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.During the same quarter in the prior year, the company posted $0.52 earnings per share. Analysts anticipate that Fulton Financial will post 2.18 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, July 1st. Fulton Financial’s dividend payout ratio is 36.19%.

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $21.42, for a total transaction of $107,100.00. Following the transaction, the director owned 80,477 shares of the company’s stock, valued at approximately $1,723,817.34. This represents a 5.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On Fulton Financial

A number of institutional investors have recently modified their holdings of the company. Root Financial Partners LLC lifted its stake in shares of Fulton Financial by 89.9% in the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock worth $26,000 after buying an additional 607 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Fulton Financial in the 4th quarter valued at $25,000. Eurizon Capital SGR S.p.A. acquired a new position in Fulton Financial in the 4th quarter valued at $27,000. Axiom Investment Management LLC bought a new position in Fulton Financial in the 1st quarter worth $28,000. Finally, Torren Management LLC bought a new position in Fulton Financial in the 4th quarter worth $28,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.