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

Shares of Fulton Financial Co. (NASDAQ:FULT) have been assigned an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $18.40.

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Jefferies Financial Group decreased their price objective on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd.

Institutional Trading of Fulton Financial

Institutional investors have recently added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A bought a new stake in shares of Fulton Financial during the 4th quarter worth approximately $38,000. YHB Investment Advisors Inc. purchased a new stake in shares of Fulton Financial during the first quarter valued at $36,000. Family Firm Inc. bought a new position in shares of Fulton Financial in the second quarter worth about $46,000. Blue Trust Inc. increased its stake in Fulton Financial by 21.9% in the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after buying an additional 691 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Fulton Financial during the 1st quarter valued at about $66,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Performance

NASDAQ FULT opened at $17.93 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.93 and a quick ratio of 0.93. Fulton Financial has a 1-year low of $11.63 and a 1-year high of $20.33. The business has a 50 day simple moving average of $18.42 and a two-hundred day simple moving average of $17.06. The stock has a market capitalization of $3.26 billion, a PE ratio of 11.14 and a beta of 0.74.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, July 16th. The bank reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.22. The firm had revenue of $334.71 million during the quarter, compared to analyst estimates of $296.38 million. Fulton Financial had a net margin of 17.93% and a return on equity of 11.29%. Fulton Financial’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. On average, research analysts predict that Fulton Financial will post 1.73 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.68 annualized dividend and a yield of 3.79%. Fulton Financial’s payout ratio is 42.24%.

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.