Fulton Financial Corp. (NASDAQ:FULT)‘s stock had its “market perform” rating restated by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Wednesday.
Several other brokerages have also recently commented on FULT. Zacks Investment Research raised Fulton Financial Corp. from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Tuesday, September 20th. Hovde Group began coverage on Fulton Financial Corp. in a report on Monday, September 12th. They set an “outperform” rating and a $16.00 target price on the stock. Finally, FBR & Co reissued a “hold” rating on shares of Fulton Financial Corp. in a report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Fulton Financial Corp. has a consensus rating of “Hold” and an average target price of $14.25.
Fulton Financial Corp. (NASDAQ:FULT) opened at 14.16 on Wednesday. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 16.31 and a beta of 1.19. The firm’s 50 day moving average price is $14.43 and its 200-day moving average price is $13.89. Fulton Financial Corp. has a 52 week low of $11.48 and a 52 week high of $14.86.
Fulton Financial Corp. (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, July 19th. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. Fulton Financial Corp. had a return on equity of 7.31% and a net margin of 19.52%. Analysts expect that Fulton Financial Corp. will post $0.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.10 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.40 annualized dividend and a yield of 2.82%. Fulton Financial Corp.’s dividend payout ratio (DPR) is 45.98%.
In other Fulton Financial Corp. news, EVP Curtis J. Myers sold 15,580 shares of Fulton Financial Corp. stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $14.34, for a total value of $223,417.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James R. Moxley III purchased 9,896 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was acquired at an average price of $13.71 per share, for a total transaction of $135,674.16. The disclosure for this purchase can be found here. 0.75% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Fulton Financial Corp. by 1.5% in the first quarter. Geode Capital Management LLC now owns 1,528,130 shares of the company’s stock valued at $20,446,000 after buying an additional 22,668 shares during the last quarter. Virginia Retirement System purchased a new position in Fulton Financial Corp. during the first quarter valued at $313,000. Riverhead Capital Management LLC boosted its position in Fulton Financial Corp. by 4.3% in the first quarter. Riverhead Capital Management LLC now owns 45,045 shares of the company’s stock valued at $603,000 after buying an additional 1,845 shares during the last quarter. BlackRock Inc. boosted its position in Fulton Financial Corp. by 5.4% in the first quarter. BlackRock Inc. now owns 69,539 shares of the company’s stock valued at $930,000 after buying an additional 3,580 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Fulton Financial Corp. by 9.6% in the second quarter. First Trust Advisors LP now owns 268,475 shares of the company’s stock valued at $3,624,000 after buying an additional 23,463 shares during the last quarter. Hedge funds and other institutional investors own 59.12% of the company’s stock.
About Fulton Financial Corp.
Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.
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