Fulton Financial (NASDAQ:FULT) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Fulton Financial (NASDAQ:FULT) from a sell rating to a hold rating in a research note published on Saturday.

Several other analysts have also commented on FULT. Weiss Ratings raised shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Piper Sandler set a $23.00 price objective on Fulton Financial and gave the stock a “neutral” rating in a research report on Friday, June 12th. Finally, Raymond James Financial raised their target price on Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Fulton Financial currently has an average rating of “Hold” and a consensus price target of $23.50.

Fulton Financial Price Performance

Shares of FULT stock opened at $24.57 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50-day moving average is $23.12 and its two-hundred day moving average is $21.67. Fulton Financial has a 12 month low of $16.60 and a 12 month high of $25.23. The company has a market capitalization of $4.70 billion, a PE ratio of 11.76 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. Fulton Financial had a net margin of 20.63% and a return on equity of 12.50%. The company had revenue of $331.86 million for the quarter, compared to analyst estimates of $359.36 million. During the same period in the previous year, the business posted $0.52 EPS. Analysts predict that Fulton Financial will post 2.18 earnings per share for the current year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Fulton Financial’s payout ratio is 36.36%.

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $24.14, for a total value of $120,700.00. Following the transaction, the director directly owned 75,477 shares in the company, valued at approximately $1,822,014.78. This represents a 6.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.01% of the company’s stock.

Institutional Trading of Fulton Financial

Several institutional investors have recently added to or reduced their stakes in FULT. Dimensional Fund Advisors LP lifted its stake in Fulton Financial by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 11,177,001 shares of the bank’s stock worth $227,333,000 after purchasing an additional 87,813 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Fulton Financial by 31.2% in the first quarter. First Trust Advisors LP now owns 8,050,923 shares of the bank’s stock valued at $163,756,000 after buying an additional 1,912,709 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Fulton Financial by 29.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,590,883 shares of the bank’s stock valued at $88,743,000 after buying an additional 1,054,321 shares during the period. Goldman Sachs Group Inc. lifted its stake in Fulton Financial by 219.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,822,385 shares of the bank’s stock worth $54,557,000 after acquiring an additional 1,939,260 shares in the last quarter. Finally, Norges Bank acquired a new position in Fulton Financial during the 4th quarter worth about $44,271,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

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.