Fulton Financial Co. (NASDAQ:FULT) Receives $18.83 Average PT from Analysts

Shares of Fulton Financial Co. (NASDAQ:FULT) have been given an average recommendation of “Hold” by the five brokerages that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $18.83.

Several research firms have recently commented on FULT. StockNews.com lowered Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th.

Hedge Funds Weigh In On Fulton Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in Fulton Financial during the 3rd quarter worth about $33,000. Family Firm Inc. acquired a new stake in shares of Fulton Financial during the second quarter worth about $46,000. Coston McIsaac & Partners purchased a new stake in Fulton Financial in the third quarter valued at approximately $54,000. Blue Trust Inc. increased its holdings in Fulton Financial by 21.9% in the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after buying an additional 691 shares during the period. Finally, TD Private Client Wealth LLC raised its position in Fulton Financial by 11.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock worth $118,000 after buying an additional 676 shares during the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Trading Up 1.7 %

NASDAQ FULT opened at $21.61 on Tuesday. Fulton Financial has a one year low of $13.84 and a one year high of $21.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 13.68 and a beta of 0.73. The company’s 50-day simple moving average is $18.74 and its two-hundred day simple moving average is $17.98.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. The company had revenue of $487.33 million for the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same period last year, the company posted $0.43 earnings per share. Equities analysts forecast that Fulton Financial will post 1.74 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) 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.