Brokerages Set Fulton Financial Co. (NASDAQ:FULT) PT at $20.64

Shares of Fulton Financial Co. (NASDAQ:FULT) have earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $20.64.

Several research analysts recently issued reports on the company. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Piper Sandler set a $21.00 price objective on Fulton Financial in a research note on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price objective on Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, January 23rd. DA Davidson upped their target price on shares of Fulton Financial from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, Hovde Group lifted their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a report on Monday, January 27th.

Insider Transactions at Fulton Financial

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction 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 SEC, which is accessible through this hyperlink. Also, President Angela M. Snyder sold 13,322 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the sale, the president now owns 63,682 shares of the company’s stock, valued at approximately $1,317,580.58. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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 FULT. Nordea Investment Management AB raised its holdings in shares of Fulton Financial by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 567,790 shares of the bank’s stock valued at $11,007,000 after buying an additional 34,844 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Fulton Financial by 130.4% during the third quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock valued at $10,104,000 after purchasing an additional 315,435 shares during the period. EMC Capital Management lifted its position in shares of Fulton Financial by 151.2% during the fourth quarter. EMC Capital Management now owns 22,607 shares of the bank’s stock worth $436,000 after purchasing an additional 13,607 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Fulton Financial in the third quarter valued at $3,489,000. Finally, Geode Capital Management LLC grew its holdings in Fulton Financial by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank’s stock valued at $79,264,000 after purchasing an additional 85,574 shares in the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Stock Up 2.8 %

Fulton Financial stock opened at $20.31 on Friday. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 12.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial has a fifty-two week low of $13.87 and a fifty-two week high of $22.49. The stock’s fifty day moving average is $20.32 and its two-hundred day moving average is $19.26.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $0.42 earnings per share. Analysts predict that Fulton Financial will post 1.89 EPS for the current fiscal year.

Fulton Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Fulton Financial’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 3.55%. Fulton Financial’s dividend payout ratio (DPR) is currently 45.86%.

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.