Fulton Financial Corp.’s (FULT) Market Perform Rating Reiterated at Keefe, Bruyette & Woods
Fulton Financial Corp. (NASDAQ:FULT)‘s stock had its “market perform” rating reaffirmed by investment analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Wednesday.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Fulton Financial Corp. from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, September 20th. Hovde Group started coverage on shares of Fulton Financial Corp. in a research note on Monday, September 12th. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, FBR & Co restated a “hold” rating on shares of Fulton Financial Corp. in a research note on Wednesday, July 20th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $14.25.
Fulton Financial Corp. (NASDAQ:FULT) traded up 0.34% during mid-day trading on Wednesday, reaching $14.58. 263,155 shares of the company traded hands. The stock’s 50-day moving average price is $14.42 and its 200-day moving average price is $13.88. Fulton Financial Corp. has a one year low of $11.48 and a one year high of $14.86. The firm has a market cap of $2.52 billion, a PE ratio of 16.80 and a beta of 1.19.
Fulton Financial Corp. (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Fulton Financial Corp. had a net margin of 19.52% and a return on equity of 7.31%. Analysts forecast that Fulton Financial Corp. will post $0.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.75%. The ex-dividend date is Wednesday, September 28th. Fulton Financial Corp.’s payout ratio is presently 45.98%.
In other Fulton Financial Corp. news, EVP Curtis J. Myers sold 15,580 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.34, for a total value of $223,417.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Philmer H. Rohrbaugh acquired 14,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was bought at an average price of $13.96 per share, with a total value of $195,440.00. The disclosure for this purchase can be found here. 0.75% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of FULT. Fulton Bank N.A. boosted its stake in Fulton Financial Corp. by 5,663.8% in the second quarter. Fulton Bank N.A. now owns 1,803,660 shares of the company’s stock valued at $24,350,000 after buying an additional 1,772,367 shares during the last quarter. Foundry Partners LLC bought a new stake in Fulton Financial Corp. during the second quarter valued at $12,236,000. Clark Capital Management Group Inc. bought a new stake in Fulton Financial Corp. during the first quarter valued at $9,932,000. Dimensional Fund Advisors LP boosted its stake in Fulton Financial Corp. by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 13,548,422 shares of the company’s stock valued at $182,902,000 after buying an additional 673,829 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Fulton Financial Corp. by 3.8% in the second quarter. Vanguard Group Inc. now owns 13,009,839 shares of the company’s stock valued at $175,633,000 after buying an additional 480,635 shares during the last quarter. Hedge funds and other institutional investors own 59.12% of the company’s stock.
About Fulton Financial Corp.
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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