Fulton Financial (NASDAQ:FULT) Price Target Raised to $22.00 at DA Davidson

Fulton Financial (NASDAQ:FULT) had its price objective increased by DA Davidson from $21.00 to $22.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for Fulton Financial’s Q1 2025 earnings at $0.42 EPS.

Several other equities research analysts have also commented on the company. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Piper Sandler set a $21.00 target price on Fulton Financial in a research report on Thursday, October 17th. Keefe, Bruyette & Woods raised their price target on Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.33.

Fulton Financial Trading Down 0.1 %

Shares of FULT stock opened at $20.56 on Friday. Fulton Financial has a 1-year low of $13.87 and a 1-year high of $22.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.93. The business’s fifty day moving average price is $20.46 and its 200 day moving average price is $19.14. The firm has a market capitalization of $3.74 billion, a PE ratio of 13.10 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, sell-side analysts forecast that Fulton Financial will post 1.79 EPS for the current fiscal year.

Fulton Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.18 dividend. This is an increase from Fulton Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, December 31st. This represents a $0.72 annualized dividend and a yield of 3.50%. Fulton Financial’s payout ratio is presently 45.86%.

Insider Buying and Selling at Fulton Financial

In other news, CEO Curtis J. Myers sold 24,192 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the transaction, the chief executive officer now owns 155,946 shares of the company’s stock, valued at $3,299,817.36. The trade was a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of Fulton Financial during the third quarter worth $33,000. Coston McIsaac & Partners purchased a new position in Fulton Financial during the third quarter worth about $54,000. Blue Trust Inc. boosted its stake in Fulton Financial by 28.8% in the 3rd quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock worth $84,000 after buying an additional 1,106 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Fulton Financial by 11.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after buying an additional 676 shares during the period. Finally, KBC Group NV increased its stake in shares of Fulton Financial by 69.3% during the 4th quarter. KBC Group NV now owns 8,517 shares of the bank’s stock valued at $164,000 after acquiring an additional 3,487 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

About Fulton Financial

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.