Piper Jaffray Companies reiterated their hold rating on shares of Fulton Financial Corporation (NASDAQ:FULT) in a report published on Thursday morning. They currently have a $18.00 price target on the bank’s stock.
Several other equities analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods reiterated a hold rating and issued a $17.00 price objective on shares of Fulton Financial Corporation in a research note on Thursday. Zacks Investment Research upgraded shares of Fulton Financial Corporation from a hold rating to a buy rating and set a $20.00 price objective on the stock in a research note on Wednesday, September 20th. Jefferies Group LLC reiterated a hold rating and issued a $20.00 price objective on shares of Fulton Financial Corporation in a research note on Friday, September 15th. BidaskClub cut shares of Fulton Financial Corporation from a sell rating to a strong sell rating in a research note on Saturday, August 12th. Finally, ValuEngine upgraded shares of Fulton Financial Corporation from a hold rating to a buy rating in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $18.67.
Fulton Financial Corporation (NASDAQ FULT) traded down 0.27% during mid-day trading on Thursday, hitting $18.50. 569,204 shares of the stock traded hands. Fulton Financial Corporation has a 1-year low of $14.45 and a 1-year high of $19.90. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 18.14 and a beta of 1.17. The company’s 50 day moving average price is $18.25 and its 200-day moving average price is $18.17.
Fulton Financial Corporation (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, October 17th. The bank reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Fulton Financial Corporation had a net margin of 21.15% and a return on equity of 8.28%. The firm had revenue of $194.19 million for the quarter, compared to analysts’ expectations of $200.00 million. During the same quarter in the prior year, the business earned $0.24 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts predict that Fulton Financial Corporation will post $1.06 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Monday, October 2nd were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Friday, September 29th. Fulton Financial Corporation’s payout ratio is 42.72%.
In other Fulton Financial Corporation news, insider Craig A. Roda sold 19,309 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $18.42, for a total transaction of $355,671.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director R Scott Smith, Jr. sold 5,539 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $18.35, for a total transaction of $101,640.65. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Fulton Financial Corporation by 7.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,721 shares of the bank’s stock worth $147,000 after acquiring an additional 519 shares during the period. Advisor Group Inc. raised its stake in Fulton Financial Corporation by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 8,336 shares of the bank’s stock worth $158,000 after acquiring an additional 417 shares during the period. Jane Street Group LLC bought a new stake in Fulton Financial Corporation during the 1st quarter worth approximately $184,000. Invictus RG bought a new stake in Fulton Financial Corporation during the 1st quarter worth approximately $186,000. Finally, Riverhead Capital Management LLC raised its stake in Fulton Financial Corporation by 56.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 9,985 shares of the bank’s stock worth $190,000 after acquiring an additional 3,585 shares during the period. Institutional investors own 62.98% 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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