Fulton Financial Co. (NASDAQ:FULT) Receives $18.40 Average PT from Brokerages

Fulton Financial Co. (NASDAQ:FULT) has earned a consensus recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $18.40.

Several analysts recently issued reports on the company. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Jefferies Financial Group lowered their target price on Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd.

Hedge Funds Weigh In On Fulton Financial

A number of large investors have recently bought and sold shares of the business. Miller Howard Investments Inc. NY raised its holdings in shares of Fulton Financial by 2.4% during the second quarter. Miller Howard Investments Inc. NY now owns 22,132 shares of the bank’s stock valued at $376,000 after buying an additional 527 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Fulton Financial by 3.7% during the second quarter. CIBC Asset Management Inc now owns 16,883 shares of the bank’s stock valued at $287,000 after acquiring an additional 605 shares during the period. Blue Trust Inc. increased its stake in shares of Fulton Financial by 21.9% during the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after acquiring an additional 691 shares during the period. Meridian Wealth Partners LLC increased its stake in shares of Fulton Financial by 4.7% during the second quarter. Meridian Wealth Partners LLC now owns 27,557 shares of the bank’s stock valued at $468,000 after acquiring an additional 1,230 shares during the period. Finally, Texas Permanent School Fund Corp increased its stake in shares of Fulton Financial by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 143,357 shares of the bank’s stock valued at $2,278,000 after acquiring an additional 1,538 shares during the period. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Trading Down 2.4 %

FULT stock opened at $17.96 on Thursday. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 11.16 and a beta of 0.74. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $18.26 and a 200-day simple moving average of $16.77. Fulton Financial has a 52 week low of $11.63 and a 52 week high of $20.33.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, July 16th. The bank reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.22. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. The business had revenue of $334.71 million during the quarter, compared to the consensus estimate of $296.38 million. During the same period in the prior year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, equities research analysts expect that Fulton Financial will post 1.73 EPS for the current year.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.17 dividend. The ex-dividend date was Monday, July 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.79%. Fulton Financial’s dividend payout ratio is currently 42.24%.

About Fulton Financial

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.