Fulton Financial Co. (NASDAQ:FULT) Receives Average Rating of “Hold” from Brokerages

Fulton Financial Co. (NASDAQ:FULT) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $18.83.

FULT has been the subject of a number of recent analyst reports. StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th.

Institutional Investors Weigh In On Fulton Financial

A number of large investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Fulton Financial in the 3rd quarter valued at $33,000. Family Firm Inc. purchased a new stake in Fulton Financial in the second quarter valued at $46,000. Coston McIsaac & Partners acquired a new stake in Fulton Financial during the 3rd quarter worth about $54,000. Blue Trust Inc. raised its stake in shares of Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after buying an additional 691 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Fulton Financial by 11.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after buying an additional 676 shares during the period. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Price Performance

Shares of Fulton Financial stock opened at $21.05 on Tuesday. Fulton Financial has a one year low of $13.84 and a one year high of $21.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.93. The stock has a market cap of $3.83 billion, a P/E ratio of 13.32 and a beta of 0.73. The stock’s fifty day moving average is $18.46 and its 200 day moving average is $17.87.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $487.33 million during the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same period last year, the firm posted $0.43 EPS. Sell-side analysts anticipate that Fulton Financial will post 1.74 earnings per share for the current year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 3.23%. Fulton Financial’s dividend payout ratio (DPR) is currently 43.04%.

About Fulton Financial

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.