Analysts Set Fulton Financial Co. (NASDAQ:FULT) PT at $18.40

Shares of Fulton Financial Co. (NASDAQ:FULT) have been given an average rating of “Hold” by the five research firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $18.40.

A number of research firms recently weighed in on FULT. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Jefferies Financial Group lowered their price objective on Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd.

Fulton Financial Stock Down 1.3 %

Shares of NASDAQ FULT opened at $17.73 on Thursday. Fulton Financial has a 12 month low of $11.63 and a 12 month high of $20.33. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 11.01 and a beta of 0.74. The business has a 50-day moving average of $18.28 and a 200-day moving average of $16.80.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, July 16th. The bank reported $0.47 EPS for the quarter, topping the consensus estimate of $0.25 by $0.22. Fulton Financial had a return on equity of 11.29% and a net margin of 17.93%. The company had revenue of $334.71 million during the quarter, compared to analyst estimates of $296.38 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Fulton Financial’s revenue was up 22.4% on a year-over-year basis. Sell-side analysts expect that Fulton Financial will post 1.73 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a $0.17 dividend. The ex-dividend date was Monday, July 1st. This represents a $0.68 annualized dividend and a yield of 3.84%. Fulton Financial’s payout ratio is currently 42.24%.

Institutional Trading of Fulton Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Fulton Financial by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock valued at $196,188,000 after acquiring an additional 297,923 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Fulton Financial by 70.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 79,410 shares of the bank’s stock valued at $1,262,000 after acquiring an additional 32,941 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Fulton Financial during the first quarter valued at approximately $452,000. BNP Paribas Financial Markets raised its holdings in shares of Fulton Financial by 78.8% during the first quarter. BNP Paribas Financial Markets now owns 83,162 shares of the bank’s stock valued at $1,321,000 after acquiring an additional 36,663 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in shares of Fulton Financial by 53.7% during the fourth quarter. Rafferty Asset Management LLC now owns 270,480 shares of the bank’s stock valued at $4,452,000 after acquiring an additional 94,538 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Company Profile

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.