Shares of Fulton Financial Corp (NASDAQ:FULT) have been given a consensus rating of “Hold” by the six analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $18.25.
A number of research analysts recently commented on FULT shares. BidaskClub downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 10th. Zacks Investment Research raised shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Thursday, January 9th. Finally, ValuEngine raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Monday, November 25th.
In other Fulton Financial news, EVP David M. Campbell acquired 5,900 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $16.89 per share, with a total value of $99,651.00. Also, EVP Daniel R. Stolzer sold 6,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $17.59, for a total transaction of $105,540.00. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.
A number of institutional investors have recently modified their holdings of FULT. Nuveen Asset Management LLC purchased a new position in Fulton Financial during the 2nd quarter worth $19,076,000. State of New Jersey Common Pension Fund D purchased a new position in Fulton Financial during the 3rd quarter worth $6,098,000. Victory Capital Management Inc. grew its position in Fulton Financial by 12.0% during the 2nd quarter. Victory Capital Management Inc. now owns 2,107,541 shares of the bank’s stock worth $34,500,000 after purchasing an additional 225,612 shares during the last quarter. Renaissance Technologies LLC grew its position in Fulton Financial by 224.9% during the 2nd quarter. Renaissance Technologies LLC now owns 313,245 shares of the bank’s stock worth $5,128,000 after purchasing an additional 216,845 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new position in Fulton Financial during the 2nd quarter worth $1,372,000. 64.94% of the stock is currently owned by institutional investors.
Shares of NASDAQ FULT traded down $0.19 during mid-day trading on Friday, reaching $17.32. The company had a trading volume of 812,152 shares, compared to its average volume of 857,100. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.31. The firm has a 50 day simple moving average of $17.45 and a two-hundred day simple moving average of $16.70. The stock has a market cap of $2.84 billion, a P/E ratio of 14.68 and a beta of 1.02. Fulton Financial has a 52-week low of $14.85 and a 52-week high of $18.00.
Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. The firm had revenue of $221.07 million for the quarter, compared to the consensus estimate of $222.21 million. Fulton Financial had a net margin of 22.88% and a return on equity of 10.31%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. On average, equities analysts expect that Fulton Financial will post 1.41 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Tuesday, December 31st. Fulton Financial’s dividend payout ratio (DPR) is 44.07%.
Fulton Financial Company Profile
Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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