DA Davidson Increases Fulton Financial (NASDAQ:FULT) Price Target to $22.00

Fulton Financial (NASDAQ:FULT) had its price target lifted by DA Davidson from $21.00 to $22.00 in a research note released on Friday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock. DA Davidson also issued estimates for Fulton Financial’s Q1 2025 earnings at $0.42 EPS.

A number of other research firms have also weighed in on FULT. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday. Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods raised their target price on Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday. Finally, Piper Sandler set a $21.00 price target on Fulton Financial in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.33.

Fulton Financial Stock Down 0.1 %

Shares of FULT stock opened at $20.56 on Friday. The stock’s 50 day simple moving average is $20.46 and its 200 day simple moving average is $19.17. Fulton Financial has a twelve month low of $13.87 and a twelve month high of $22.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.90. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 13.10 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same period last year, the business earned $0.42 EPS. As a group, research analysts predict that Fulton Financial will post 1.79 EPS for the current year.

Fulton Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.18 dividend. This is a boost from Fulton Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.72 annualized dividend and a yield of 3.50%. Fulton Financial’s dividend payout ratio is 45.86%.

Insiders Place Their Bets

In other news, CEO Curtis J. Myers sold 24,192 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction of $511,902.72. Following the completion of the transaction, the chief executive officer now directly owns 155,946 shares of the company’s stock, valued at approximately $3,299,817.36. This trade represents a 13.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Fulton Financial during the third quarter valued at approximately $33,000. Coston McIsaac & Partners bought a new position in shares of Fulton Financial during the 3rd quarter worth approximately $54,000. Blue Trust Inc. boosted its stake in Fulton Financial by 28.8% in the 3rd quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock valued at $84,000 after buying an additional 1,106 shares in the last quarter. TD Private Client Wealth LLC grew its position in Fulton Financial by 11.6% in the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after acquiring an additional 676 shares during the period. Finally, KBC Group NV raised its stake in Fulton Financial by 69.3% during the fourth quarter. KBC Group NV now owns 8,517 shares of the bank’s stock worth $164,000 after acquiring an additional 3,487 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

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.