Fulton Financial Corporation (NASDAQ:FULT) Receives Average Rating of “Hold” from Analysts

Shares of Fulton Financial Corporation (NASDAQ:FULT) have been given an average recommendation of “Hold” by the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $20.90.

Several brokerages have issued reports on FULT. Weiss Ratings cut Fulton Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Zacks Research lowered shares of Fulton Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Raymond James Financial upgraded shares of Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Fulton Financial from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Wednesday.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction on Friday, September 12th. The stock was sold at an average price of $19.28, for a total value of $96,400.00. Following the sale, the director owned 90,477 shares in the company, valued at $1,744,396.56. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fulton Financial

A number of hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in Fulton Financial by 373.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank’s stock valued at $30,000 after buying an additional 1,311 shares during the period. State of Wyoming acquired a new stake in shares of Fulton Financial during the second quarter valued at about $30,000. Parallel Advisors LLC raised its stake in shares of Fulton Financial by 69.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,903 shares of the bank’s stock valued at $35,000 after acquiring an additional 777 shares during the period. Quarry LP lifted its holdings in shares of Fulton Financial by 1,669.6% in the 1st quarter. Quarry LP now owns 1,982 shares of the bank’s stock worth $36,000 after acquiring an additional 1,870 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Fulton Financial by 48.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,995 shares of the bank’s stock worth $38,000 after purchasing an additional 647 shares during the period. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Trading Down 0.4%

FULT opened at $18.18 on Friday. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 9.52 and a beta of 0.88. The company’s 50 day simple moving average is $17.93 and its two-hundred day simple moving average is $18.25. Fulton Financial has a 1-year low of $14.32 and a 1-year high of $21.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.89 and a quick ratio of 0.89.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, November 8th. The bank reported $0.45 EPS for the quarter. Fulton Financial had a return on equity of 12.55% and a net margin of 19.01%.The firm had revenue of $236.96 million during the quarter. Analysts expect that Fulton Financial will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.0%. The ex-dividend date was Wednesday, October 1st. Fulton Financial’s dividend payout ratio is presently 37.70%.

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.