Zacks Investment Research lowered shares of Fulton Financial Corporation (NASDAQ:FULT) from a buy rating to a hold rating in a research report sent to investors on Tuesday, August 1st.
According to Zacks, “Fulton Financial Corp. is a bank holding company. It provides retail and commercial banking and investment management and trust services in central and eastern Pennsylvania, southern New Jersey, northern Maryland and southern Delaware through its wholly-owned subsidiaries: Fulton Bank, Lebanon Valley Farmers Bank, Swineford National Bank, Lafayette Ambassador Bank, FNB Bank, N.A., Great Valley Bank, Hagerstown Trust Company, Delaware National Bank, The Bank of Gloucester County, The Woodstown National Bank & Trust Company, and The Peoples Bank of Elkton. “
Several other analysts also recently issued reports on FULT. Keefe, Bruyette & Woods set a $17.00 price objective on Fulton Financial Corporation and gave the company a hold rating in a research report on Monday, April 10th. Barclays PLC restated a sell rating and issued a $18.00 price objective (up from $17.00) on shares of Fulton Financial Corporation in a research report on Friday, April 21st. Jefferies Group LLC restated a hold rating and issued a $20.00 price objective on shares of Fulton Financial Corporation in a research report on Friday, May 5th. ValuEngine upgraded Fulton Financial Corporation from a hold rating to a buy rating in a research report on Tuesday, June 6th. Finally, BidaskClub upgraded Fulton Financial Corporation from a sell rating to a hold rating in a research report on Saturday, June 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $18.33.
Shares of Fulton Financial Corporation (NASDAQ:FULT) opened at 17.25 on Tuesday. Fulton Financial Corporation has a 52 week low of $13.81 and a 52 week high of $19.90. The firm has a 50 day moving average price of $18.48 and a 200-day moving average price of $18.35. The firm has a market capitalization of $3.02 billion, a P/E ratio of 17.42 and a beta of 1.16.
Fulton Financial Corporation (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, July 18th. The bank reported $0.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Fulton Financial Corporation had a return on equity of 8.02% and a net margin of 20.86%. The business had revenue of $193.93 million for the quarter, compared to the consensus estimate of $194.02 million. During the same period in the prior year, the business earned $0.23 earnings per share. Equities research analysts predict that Fulton Financial Corporation will post $1.06 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, July 3rd were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.44 annualized dividend and a yield of 2.55%. Fulton Financial Corporation’s dividend payout ratio (DPR) is presently 44.44%.
In other Fulton Financial Corporation news, insider Michael J. Deporter sold 1,500 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $18.00, for a total transaction of $27,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Craig A. Roda sold 19,309 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $18.42, for a total value of $355,671.78. The disclosure for this sale can be found here. Insiders have sold 26,348 shares of company stock valued at $484,312 over the last 90 days. 0.68% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Fulton Financial Corporation by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 14,443,398 shares of the bank’s stock valued at $274,426,000 after buying an additional 112,692 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Fulton Financial Corporation by 3.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 29,031 shares of the bank’s stock valued at $552,000 after buying an additional 1,000 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Fulton Financial Corporation by 72.8% in the second quarter. Citadel Advisors LLC now owns 716,747 shares of the bank’s stock valued at $13,618,000 after buying an additional 301,946 shares in the last quarter. Ramsey Quantitative Systems raised its stake in shares of Fulton Financial Corporation by 22.6% in the second quarter. Ramsey Quantitative Systems now owns 16,861 shares of the bank’s stock valued at $320,000 after buying an additional 3,113 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in shares of Fulton Financial Corporation by 5.3% in the second quarter. Advisor Group Inc. now owns 8,336 shares of the bank’s stock valued at $158,000 after buying an additional 417 shares in the last quarter. Institutional investors own 62.08% of the company’s stock.
Fulton Financial Corporation 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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