Fulton Financial Corp. (NASDAQ:FULT) Given Average Rating of “Hold” by Brokerages
Fulton Financial Corp. (NASDAQ:FULT) has been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the stock. Eight equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $13.70.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Fulton Financial Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. FBR & Co reiterated a “hold” rating on shares of Fulton Financial Corp. in a research report on Wednesday, July 20th. Finally, Hovde Group assumed coverage on shares of Fulton Financial Corp. in a research report on Monday, September 12th. They set an “outperform” rating and a $16.00 price objective on the stock.
Fulton Financial Corp. (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, July 19th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. Fulton Financial Corp. had a net margin of 19.52% and a return on equity of 7.31%.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, September 28th. Fulton Financial Corp.’s payout ratio is 45.98%.
In other news, Director James R. Moxley III acquired 9,896 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was bought at an average cost of $13.71 per share, with a total value of $135,674.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Curtis J. Myers sold 15,580 shares of Fulton Financial Corp. stock in a transaction on Monday, August 29th. The stock was sold at an average price of $14.34, for a total transaction of $223,417.20. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in Fulton Financial Corp. by 77.3% in the second quarter. Victory Capital Management Inc. now owns 7,989 shares of the company’s stock valued at $108,000 after buying an additional 3,484 shares during the last quarter. Sei Investments Co. raised its stake in shares of Fulton Financial Corp. by 33,879.3% in the second quarter. Sei Investments Co. now owns 9,854 shares of the company’s stock worth $133,000 after buying an additional 9,825 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Fulton Financial Corp. by 34.0% in the first quarter. Envestnet Asset Management Inc. now owns 10,307 shares of the company’s stock worth $138,000 after buying an additional 2,615 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of Fulton Financial Corp. by 76.7% in the second quarter. LS Investment Advisors LLC now owns 10,458 shares of the company’s stock worth $141,000 after buying an additional 4,538 shares in the last quarter. Finally, SevenBridge Financial Group LLC bought a new stake in shares of Fulton Financial Corp. during the second quarter worth about $154,000. 59.12% of the stock is owned by institutional investors.
Fulton Financial Corp. Company Profile
Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.
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