Fulton Financial Corporation (NASDAQ:FULT) Given Consensus Rating of “Hold” by Analysts

Shares of Fulton Financial Corporation (NASDAQ:FULT) have been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $23.00.

Several analysts recently weighed in on the company. Weiss Ratings raised Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 27th. DA Davidson started coverage on shares of Fulton Financial in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 price objective on the stock. Wall Street Zen upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Fulton Financial in a research note on Monday.

Insiders Place Their Bets

In related news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction on 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 directly owned 80,477 shares of the company’s stock, valued at approximately $1,723,817.34. The trade was a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Root Financial Partners LLC raised its stake in shares of Fulton Financial by 89.9% in the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after acquiring an additional 607 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Fulton Financial in the 4th quarter valued at $25,000. Eurizon Capital SGR S.p.A. acquired a new stake in Fulton Financial during the fourth quarter worth about $27,000. Torren Management LLC bought a new stake in shares of Fulton Financial during the fourth quarter valued at approximately $28,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Fulton Financial in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Stock Performance

NASDAQ FULT opened at $21.92 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.90 and a quick ratio of 0.90. Fulton Financial has a 1-year low of $16.31 and a 1-year high of $22.99. The business’s 50-day simple moving average is $20.84 and its 200-day simple moving average is $19.81. The firm has a market capitalization of $3.94 billion, a P/E ratio of 10.44 and a beta of 0.81.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. The company had revenue of $331.86 million during the quarter, compared to the consensus estimate of $359.36 million. Fulton Financial had a return on equity of 12.50% and a net margin of 20.85%.During the same quarter in the prior year, the business earned $0.52 earnings per share. Equities analysts predict that Fulton Financial will post 2.1 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.76 dividend on an annualized basis and a yield of 3.5%. Fulton Financial’s dividend payout ratio (DPR) is currently 36.19%.

About Fulton Financial

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.