Fulton Financial Corporation (NASDAQ:FULT) Receives $21.50 Consensus Target Price from Analysts

Shares of Fulton Financial Corporation (NASDAQ:FULT) have been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $21.50.

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Fulton Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 27th. Keefe, Bruyette & Woods increased their price objective on shares of Fulton Financial from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Wednesday, November 26th. Finally, DA Davidson assumed coverage on shares of Fulton Financial in a report on Wednesday, February 25th. They set a “neutral” rating and a $24.00 price objective on the stock.

Fulton Financial Price Performance

Shares of FULT stock opened at $19.94 on Monday. Fulton Financial has a twelve month low of $14.32 and a twelve month high of $22.99. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $20.83 and a two-hundred day simple moving average of $19.43. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 9.59 and a beta of 0.85.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. Fulton Financial had a return on equity of 12.78% and a net margin of 20.68%.The firm had revenue of $336.02 million for the quarter, compared to analyst estimates of $336.80 million. During the same quarter last year, the firm posted $0.48 earnings per share. On average, analysts predict that Fulton Financial will post 1.91 EPS for the current fiscal year.

Fulton Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.19 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Fulton Financial’s previous quarterly dividend of $0.18. Fulton Financial’s dividend payout ratio (DPR) is 36.54%.

Fulton Financial declared that its board has initiated a stock repurchase plan on Tuesday, December 16th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $19.55, for a total transaction of $97,750.00. Following the completion of the sale, the director directly owned 85,477 shares of the company’s stock, valued at approximately $1,671,075.35. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.08% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new stake in shares of Fulton Financial during the fourth quarter worth $25,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Fulton Financial in the 4th quarter valued at $27,000. Torren Management LLC acquired a new position in shares of Fulton Financial in the 4th quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in Fulton Financial in the 4th quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Fulton Financial in the 4th quarter worth $28,000. Institutional investors own 72.02% of the company’s stock.

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.