Fulton Financial Corporation (NASDAQ:FULT) Receives $23.00 Consensus Target Price from Brokerages

Shares of Fulton Financial Corporation (NASDAQ:FULT) have earned a consensus rating of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $23.00.

FULT has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Raymond James Financial restated an “outperform” rating and issued a $24.00 price target on shares of Fulton Financial in a research note on Monday, April 27th. DA Davidson started coverage on shares of Fulton Financial in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 price target on the stock. Finally, Weiss Ratings upgraded shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st.

Fulton Financial Price Performance

FULT stock opened at $21.60 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06. Fulton Financial has a 12 month low of $16.60 and a 12 month high of $22.99. The firm has a market cap of $4.13 billion, a P/E ratio of 10.29 and a beta of 0.81. The company’s 50-day moving average price is $21.04 and its two-hundred day moving average price is $20.34.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Wednesday, April 22nd. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. Fulton Financial had a net margin of 20.85% and a return on equity of 12.69%. The firm had revenue of $331.86 million for the quarter, compared to analyst estimates of $359.36 million. During the same period last year, the firm earned $0.52 EPS. On average, analysts anticipate that Fulton Financial will post 2.17 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.76 annualized dividend and a dividend yield of 3.5%. Fulton Financial’s dividend payout ratio is 36.19%.

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $21.42, for a total value of $107,100.00. Following the completion of the transaction, the director directly owned 80,477 shares in the company, valued at approximately $1,723,817.34. This represents a 5.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FULT. Nordea Investment Management AB boosted its position in Fulton Financial by 25.2% during the 4th quarter. Nordea Investment Management AB now owns 737,737 shares of the bank’s stock worth $14,327,000 after buying an additional 148,399 shares during the period. JPMorgan Chase & Co. boosted its position in Fulton Financial by 46.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 603,553 shares of the bank’s stock worth $11,244,000 after buying an additional 191,764 shares during the period. Econ Financial Services Corp acquired a new position in shares of Fulton Financial in the 4th quarter worth approximately $2,018,000. Ruffer LLP acquired a new position in shares of Fulton Financial in the 4th quarter worth approximately $3,074,000. Finally, Fisher Asset Management LLC lifted its position in shares of Fulton Financial by 6.4% in the 3rd quarter. Fisher Asset Management LLC now owns 3,363,509 shares of the bank’s stock worth $62,662,000 after purchasing an additional 203,708 shares during the period. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.