Fulton Financial Corporation (NASDAQ:FULT) Receives Consensus Recommendation of “Hold” from Brokerages

Fulton Financial Corporation (NASDAQ:FULT) has earned a consensus recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $23.00.

Several brokerages have recently issued reports on FULT. Wall Street Zen cut Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Weiss Ratings raised Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Raymond James Financial reiterated an “outperform” rating and issued a $24.00 target price on shares of Fulton Financial in a report on Monday, April 27th. Piper Sandler set a $23.00 target price on Fulton Financial and gave the stock a “neutral” rating in a report on Friday. Finally, DA Davidson started coverage on Fulton Financial in a report on Wednesday, February 25th. They set a “neutral” rating and a $24.00 price target on the stock.

Insiders Place Their Bets

In related news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $21.42, for a total transaction of $107,100.00. Following the sale, the director owned 80,477 shares in the company, valued at approximately $1,723,817.34. This represents a 5.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.01% of the company’s stock.

Institutional Trading of Fulton Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new stake in Fulton Financial during the 4th quarter valued at $25,000. Root Financial Partners LLC raised its holdings in Fulton Financial by 89.9% during the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after buying an additional 607 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in Fulton Financial during the 4th quarter valued at $27,000. V Square Quantitative Management LLC purchased a new stake in Fulton Financial during the 4th quarter valued at $28,000. Finally, Torren Management LLC purchased a new stake in Fulton Financial during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Up 0.9%

Shares of FULT opened at $23.10 on Wednesday. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 11.00 and a beta of 0.80. Fulton Financial has a 1 year low of $16.60 and a 1 year high of $23.66. The business’s 50 day simple moving average is $21.67 and its 200-day simple moving average is $20.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.90 and a quick ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. The business had revenue of $331.86 million for the quarter, compared to analysts’ expectations of $359.36 million. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.During the same period in the prior year, the firm earned $0.52 EPS. As a group, equities analysts expect that Fulton Financial will post 2.18 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, July 1st. Fulton Financial’s dividend payout ratio is presently 36.19%.

About Fulton Financial

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.