Fulton Financial Corp.’s (FULT) Market Perform Rating Reiterated at Keefe, Bruyette & Woods
A number of other brokerages also recently commented on FULT. Zacks Investment Research upgraded shares of Fulton Financial Corp. from a hold rating to a buy rating and set a $16.00 price target for the company in a report on Tuesday, September 20th. FBR & Co reiterated a hold rating on shares of Fulton Financial Corp. in a report on Wednesday, July 20th. Finally, Hovde Group began coverage on shares of Fulton Financial Corp. in a report on Monday, September 12th. They set an outperform rating and a $16.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $14.25.
Shares of Fulton Financial Corp. (NASDAQ:FULT) opened at 14.26 on Wednesday. Fulton Financial Corp. has a 12-month low of $11.48 and a 12-month high of $14.86. The firm’s 50-day moving average is $14.44 and its 200-day moving average is $13.89. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 16.43 and a beta of 1.19.
The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were issued a $0.10 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.81%. Fulton Financial Corp.’s payout ratio is 45.98%.
In related news, EVP Curtis J. Myers sold 15,580 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $14.34, for a total value of $223,417.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Philmer H. Rohrbaugh bought 14,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was bought at an average price of $13.96 per share, with a total value of $195,440.00. The disclosure for this purchase can be found here. 0.75% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Fulton Financial Corp. by 1.5% in the first quarter. Geode Capital Management LLC now owns 1,528,130 shares of the company’s stock valued at $20,446,000 after buying an additional 22,668 shares in the last quarter. Virginia Retirement System acquired a new stake in Fulton Financial Corp. during the first quarter valued at about $313,000. Riverhead Capital Management LLC increased its stake in Fulton Financial Corp. by 4.3% in the first quarter. Riverhead Capital Management LLC now owns 45,045 shares of the company’s stock valued at $603,000 after buying an additional 1,845 shares in the last quarter. BlackRock Inc. increased its stake in Fulton Financial Corp. by 5.4% in the first quarter. BlackRock Inc. now owns 69,539 shares of the company’s stock valued at $930,000 after buying an additional 3,580 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Fulton Financial Corp. by 9.6% in the second quarter. First Trust Advisors LP now owns 268,475 shares of the company’s stock valued at $3,624,000 after buying an additional 23,463 shares in the last quarter. Hedge funds and other institutional investors own 59.15% of the company’s stock.
Fulton Financial Corp. Company Profile
Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.
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