Fulton Financial (NASDAQ:FULT) Stock Price Expected to Rise, Hovde Group Analyst Says

Fulton Financial (NASDAQ:FULTFree Report) had its price objective lifted by Hovde Group from $22.00 to $22.50 in a report released on Monday, Marketbeat Ratings reports. They currently have a market perform rating on the bank’s stock.

A number of other brokerages have also recently commented on FULT. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Piper Sandler set a $21.00 target price on Fulton Financial in a research report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, January 23rd. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, DA Davidson boosted their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Fulton Financial has an average rating of “Hold” and a consensus price target of $20.64.

Read Our Latest Stock Analysis on FULT

Fulton Financial Trading Up 0.1 %

Fulton Financial stock opened at $20.58 on Monday. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 13.11 and a beta of 0.79. The firm has a 50-day moving average of $20.45 and a 200-day moving average of $19.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.93. Fulton Financial has a one year low of $13.87 and a one year high of $22.49.

Fulton Financial (NASDAQ:FULTGet Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same quarter last year, the business posted $0.42 EPS. On average, equities analysts expect that Fulton Financial will post 1.79 earnings per share for the current fiscal year.

Fulton Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.50%. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, December 31st. Fulton Financial’s payout ratio is presently 45.86%.

Insider Activity

In other news, CEO Curtis J. Myers sold 24,192 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the sale, the chief executive officer now owns 155,946 shares of the company’s stock, valued at approximately $3,299,817.36. This represents a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Angela M. Snyder sold 13,322 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the transaction, the president now owns 63,682 shares of the company’s stock, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Institutional Trading of Fulton Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Fulton Financial during the 3rd quarter valued at $33,000. Coston McIsaac & Partners purchased a new position in shares of Fulton Financial during the third quarter valued at approximately $54,000. Blue Trust Inc. grew its stake in shares of Fulton Financial by 28.8% in the 3rd quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock worth $84,000 after acquiring an additional 1,106 shares in the last quarter. TD Private Client Wealth LLC grew its position in Fulton Financial by 11.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock worth $118,000 after purchasing an additional 676 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Fulton Financial by 69.3% during the fourth quarter. KBC Group NV now owns 8,517 shares of the bank’s stock valued at $164,000 after acquiring an additional 3,487 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

About Fulton Financial

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Fulton Financial (NASDAQ:FULT)

Receive News & Ratings for Fulton Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fulton Financial and related companies with MarketBeat.com's FREE daily email newsletter.