Fulton Financial Corporation (FULT) – What Are Investment Firms Saying About This Stock?

Fulton Financial Corporation (NASDAQ:FULT) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $24.75.

Several equities research analysts have weighed in on the company. DA Davidson boosted their price objective on Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Wall Street Zen raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Raymond James Financial lowered Fulton Financial from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 6th. Piper Sandler reiterated a “neutral” rating and issued a $27.00 target price (up from $23.00) on shares of Fulton Financial in a report on Monday, August 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fulton Financial in a research report on Wednesday, July 29th.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director Lisa Crutchfield sold 4,100 shares of Fulton Financial stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $24.80, for a total transaction of $101,680.00. Following the completion of the transaction, the director directly owned 7,838 shares of the company’s stock, valued at $194,382.40. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC lifted its holdings in shares of Fulton Financial by 89.9% in the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock worth $26,000 after acquiring an additional 607 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Fulton Financial during the 4th quarter worth about $28,000. Axiom Investment Management LLC purchased a new position in shares of Fulton Financial during the 1st quarter worth about $28,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Fulton Financial during the 1st quarter worth about $53,000. Finally, Compass Financial Management LLC bought a new position in Fulton Financial during the 2nd quarter valued at about $66,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Up 0.1%

Shares of NASDAQ FULT opened at $23.70 on Tuesday. The firm’s 50-day moving average price is $23.15 and its 200-day moving average price is $22.26. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 11.02 and a beta of 0.79. Fulton Financial has a 12-month low of $16.91 and a 12-month high of $25.23.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Wednesday, October 21st. The bank reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.07. The firm had revenue of $367.26 million during the quarter, compared to the consensus estimate of $366.71 million. Fulton Financial had a net margin of 21.07% and a return on equity of 12.79%. During the same quarter last year, the firm earned $0.55 EPS. On average, equities research analysts anticipate that Fulton Financial will post 2.26 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were given a $0.19 dividend. The ex-dividend date was Thursday, October 1st. This represents a $0.76 dividend on an annualized basis and a yield of 3.2%. Fulton Financial’s dividend payout ratio (DPR) is currently 35.35%.

About Fulton Financial

Fulton Financial Corporation is a regional bank holding company headquartered in Lancaster, Pennsylvania. Through its principal subsidiary, Fulton Bank, N.A., the company provides banking and financial services to individuals, businesses, and institutions.

Fulton Bank offers deposit accounts, consumer and commercial lending, residential mortgages, and cash-management and treasury services. Its other offerings include wealth management, trust and investment services, financial planning, and insurance solutions.

Founded in 1882, Fulton Financial serves customers through banking offices and digital channels in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia.