Fulton Financial Corp (NASDAQ:FULT)‘s stock had its “sell” rating reiterated by stock analysts at Barclays PLC in a report released on Friday. They presently have a $18.00 target price on the bank’s stock, up from their previous target price of $17.00. Barclays PLC’s price objective would suggest a potential downside of 4.26% from the company’s current price.
Several other research firms have also commented on FULT. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $18.00 price objective on shares of Fulton Financial Corp in a research note on Thursday. Zacks Investment Research lowered Fulton Financial Corp from a “buy” rating to a “hold” rating in a research note on Monday, December 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $18.20.
Shares of Fulton Financial Corp (NASDAQ:FULT) traded up 1.90% during midday trading on Friday, reaching $18.80. The company’s stock had a trading volume of 1,093,101 shares. Fulton Financial Corp has a one year low of $12.66 and a one year high of $19.75. The stock’s 50-day moving average is $18.01 and its 200-day moving average is $17.66. The company has a market capitalization of $3.28 billion, a P/E ratio of 19.58 and a beta of 1.10.
Fulton Financial Corp (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, April 18th. The bank reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Fulton Financial Corp had a return on equity of 7.67% and a net margin of 20.37%. The company earned $183.15 million during the quarter, compared to analyst estimates of $184.36 million. During the same period in the previous year, the business earned $0.22 EPS. Fulton Financial Corp’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that Fulton Financial Corp will post $1.00 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Monday, April 3rd were given a $0.11 dividend. The ex-dividend date was Thursday, March 30th. This is a positive change from Fulton Financial Corp’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.34%. Fulton Financial Corp’s dividend payout ratio is 43.01%.
In other news, insider Curtis J. Myers sold 9,285 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $18.75, for a total value of $174,093.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of FULT. Advisor Group Inc. raised its stake in Fulton Financial Corp by 17.9% in the third quarter. Advisor Group Inc. now owns 6,927 shares of the bank’s stock worth $100,000 after buying an additional 1,053 shares during the period. Riverhead Capital Management LLC raised its stake in Fulton Financial Corp by 271.0% in the third quarter. Riverhead Capital Management LLC now owns 7,100 shares of the bank’s stock worth $103,000 after buying an additional 5,186 shares during the period. Victory Capital Management Inc. raised its stake in Fulton Financial Corp by 10.6% in the third quarter. Victory Capital Management Inc. now owns 8,838 shares of the bank’s stock worth $128,000 after buying an additional 849 shares during the period. Pacad Investment Ltd. raised its stake in Fulton Financial Corp by 315.0% in the fourth quarter. Pacad Investment Ltd. now owns 8,300 shares of the bank’s stock worth $156,000 after buying an additional 6,300 shares during the period. Finally, Sei Investments Co. raised its stake in Fulton Financial Corp by 9.7% in the third quarter. Sei Investments Co. now owns 10,813 shares of the bank’s stock worth $157,000 after buying an additional 959 shares during the period. Institutional investors and hedge funds own 58.70% of the company’s stock.
Fulton Financial Corp Company Profile
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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