Fulton Financial Corporation (NASDAQ:FULT) Upgraded at ValuEngine
ValuEngine upgraded shares of Fulton Financial Corporation (NASDAQ:FULT) from a hold rating to a buy rating in a research note issued to investors on Thursday.
A number of other analysts also recently commented on FULT. Keefe, Bruyette & Woods set a $17.00 price objective on Fulton Financial Corporation and gave the stock a hold rating in a report on Monday, April 10th. Barclays PLC restated a sell rating and set a $18.00 price objective (up from $17.00) on shares of Fulton Financial Corporation in a report on Friday, April 21st. Jefferies Group LLC restated a hold rating and set a $20.00 price objective on shares of Fulton Financial Corporation in a report on Friday, May 5th. BidaskClub upgraded Fulton Financial Corporation from a sell rating to a hold rating in a report on Saturday, June 10th. Finally, Stephens started coverage on Fulton Financial Corporation in a report on Thursday, July 13th. They set an equal weight rating for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Fulton Financial Corporation presently has an average rating of Hold and a consensus price target of $18.33.
Fulton Financial Corporation (FULT) traded down 0.138% during midday trading on Thursday, reaching $18.075. The company’s stock had a trading volume of 268,259 shares. Fulton Financial Corporation has a 52 week low of $13.46 and a 52 week high of $19.90. The firm’s 50-day moving average price is $18.73 and its 200-day moving average price is $18.37. The stock has a market capitalization of $3.16 billion, a PE ratio of 18.258 and a beta of 1.16.
Fulton Financial Corporation (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, July 18th. The bank reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The business had revenue of $193.93 million during the quarter, compared to the consensus estimate of $194.02 million. Fulton Financial Corporation had a return on equity of 8.02% and a net margin of 20.86%. During the same period in the prior year, the firm posted $0.23 EPS. On average, analysts anticipate that Fulton Financial Corporation will post $1.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, July 3rd were given a dividend of $0.11 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.44 dividend on an annualized basis and a yield of 2.43%. Fulton Financial Corporation’s dividend payout ratio (DPR) is 44.44%.
In related news, insider Craig A. Roda sold 19,309 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $18.42, for a total transaction of $355,671.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Deporter sold 1,500 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $18.00, for a total transaction of $27,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,348 shares of company stock valued at $484,312. 0.68% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of Fulton Financial Corporation by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 60,853 shares of the bank’s stock worth $1,086,000 after buying an additional 800 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Fulton Financial Corporation by 159.8% in the first quarter. Principal Financial Group Inc. now owns 1,816,332 shares of the bank’s stock worth $32,422,000 after buying an additional 1,117,263 shares during the period. Bbva Compass Bancshares Inc. boosted its stake in shares of Fulton Financial Corporation by 2.8% in the first quarter. Bbva Compass Bancshares Inc. now owns 23,366 shares of the bank’s stock worth $418,000 after buying an additional 642 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Fulton Financial Corporation by 3.9% in the first quarter. Parametric Portfolio Associates LLC now owns 724,499 shares of the bank’s stock worth $12,932,000 after buying an additional 27,460 shares during the period. Finally, American International Group Inc. boosted its stake in shares of Fulton Financial Corporation by 4.6% in the first quarter. American International Group Inc. now owns 447,762 shares of the bank’s stock worth $7,993,000 after buying an additional 19,556 shares during the period. 62.08% of the stock is owned by hedge funds and other institutional investors.
About Fulton Financial Corporation
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Fulton Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fulton Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.