Brokerages Set Fulton Financial Co. (NASDAQ:FULT) Price Target at $18.83

Fulton Financial Co. (NASDAQ:FULT) has earned a consensus rating of “Hold” from the five analysts that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $18.83.

FULT has been the topic of several recent research reports. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Jefferies Financial Group cut their price objective on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Finally, Piper Sandler set a $21.00 price target on shares of Fulton Financial in a report on Thursday, October 17th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new position in shares of Fulton Financial during the second quarter worth approximately $46,000. Coston McIsaac & Partners bought a new position in shares of Fulton Financial in the third quarter valued at $54,000. Blue Trust Inc. grew its holdings 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 buying an additional 691 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Fulton Financial during the first quarter worth about $66,000. Finally, AE Wealth Management LLC acquired a new stake in shares of Fulton Financial in the 2nd quarter worth about $172,000. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Stock Down 1.5 %

Shares of NASDAQ:FULT opened at $17.49 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial has a 52-week low of $12.24 and a 52-week high of $20.33. The company has a market capitalization of $3.18 billion, a PE ratio of 11.07 and a beta of 0.73. The company has a fifty day moving average of $18.12 and a 200-day moving average of $17.39.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. The firm had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. Fulton Financial had a return on equity of 11.14% and a net margin of 16.37%. During the same period last year, the company earned $0.43 earnings per share. On average, equities analysts predict that Fulton Financial will post 1.75 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 3.89%. Fulton Financial’s dividend payout ratio is presently 43.04%.

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.