Analysts Set Fulton Financial Co. (NASDAQ:FULT) PT at $19.50

Fulton Financial Co. (NASDAQ:FULT) has been given a consensus rating of “Hold” by the five ratings firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.50.

FULT has been the subject of several research analyst reports. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Fulton Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Insider Buying and Selling at Fulton Financial

In related news, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction on Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the transaction, the chief executive officer now directly owns 155,946 shares of the company’s stock, valued at $3,299,817.36. The trade was a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On Fulton Financial

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its stake in Fulton Financial by 4.4% in the 3rd quarter. State Street Corp now owns 10,544,159 shares of the bank’s stock worth $191,166,000 after purchasing an additional 444,219 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Fulton Financial by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank’s stock worth $79,264,000 after purchasing an additional 85,574 shares during the period. Millennium Management LLC increased its stake in Fulton Financial by 511.1% in the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock worth $55,287,000 after buying an additional 2,723,170 shares in the last quarter. American Century Companies Inc. grew its position in shares of Fulton Financial by 18.6% during the second quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank’s stock worth $51,323,000 after purchasing an additional 474,099 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Fulton Financial by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,358,099 shares of the bank’s stock worth $42,752,000 after buying an additional 31,754 shares in the last quarter. 72.02% of the stock is owned by institutional investors.

Fulton Financial Trading Down 1.4 %

Shares of FULT stock opened at $19.06 on Wednesday. The stock has a 50-day moving average of $20.42 and a 200-day moving average of $18.85. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 12.06 and a beta of 0.79. Fulton Financial has a 1-year low of $13.87 and a 1-year high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $487.33 million for the quarter, compared to analysts’ expectations of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same quarter in the prior year, the firm posted $0.43 earnings per share. On average, equities research analysts forecast that Fulton Financial will post 1.73 earnings per share for the current year.

Fulton Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 3.78%. Fulton Financial’s dividend payout ratio is 45.57%.

Fulton Financial Company Profile

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.