Fulton Financial Corporation (NASDAQ:FULT) Given Average Rating of “Hold” by Analysts

Fulton Financial Corporation (NASDAQ:FULT) has been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $24.75.

A number of research firms recently commented on FULT. Weiss Ratings reiterated a “buy (b)” rating on shares of Fulton Financial in a report on Wednesday, July 29th. DA Davidson raised their price target on shares of Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Raymond James Financial boosted their price objective on shares of Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Wall Street Zen raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Piper Sandler reissued a “neutral” rating and issued a $27.00 target price (up from $23.00) on shares of Fulton Financial in a research note on Monday, August 3rd.

Fulton Financial Price Performance

Shares of Fulton Financial stock opened at $24.10 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.92 and a quick ratio of 0.92. Fulton Financial has a one year low of $16.60 and a one year high of $25.23. The business’s 50 day simple moving average is $24.20 and its two-hundred day simple moving average is $22.38. The stock has a market capitalization of $4.60 billion, a P/E ratio of 11.53 and a beta of 0.78.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. Fulton Financial had a return on equity of 12.68% and a net margin of 20.63%.The firm had revenue of $367.87 million during the quarter, compared to analyst estimates of $358.83 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. Analysts forecast that Fulton Financial will post 2.23 EPS for the current year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.19 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 annualized dividend and a yield of 3.2%. Fulton Financial’s dividend payout ratio (DPR) is 36.36%.

Insider Buying and Selling

In related news, Director Lisa Crutchfield sold 4,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $24.80, for a total transaction of $101,680.00. Following the completion of the transaction, the director owned 7,838 shares in the company, valued at $194,382.40. This represents a 34.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director E. Wenger sold 5,000 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the transaction, the director directly owned 75,477 shares in the company, valued at approximately $1,822,014.78. The trade was a 6.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fulton Financial

Institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC bought a new stake in Fulton Financial during the 4th quarter valued at approximately $25,000. Root Financial Partners LLC raised its position in shares of Fulton Financial by 89.9% in the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock worth $26,000 after acquiring an additional 607 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Fulton Financial in the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Fulton Financial in the 4th quarter valued at approximately $28,000. Finally, Axiom Investment Management LLC purchased a new position in shares of Fulton Financial in the 1st quarter valued at approximately $28,000. 72.02% of the stock is owned by institutional investors.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.