Fulton Financial Co. (NASDAQ:FULT) Given Consensus Recommendation of “Hold” by Analysts

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

Several equities analysts recently weighed in on FULT shares. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a research note on Thursday, October 17th. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th.

Fulton Financial Stock Performance

FULT opened at $18.11 on Friday. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 11.46 and a beta of 0.73. The company has a fifty day moving average of $18.12 and a 200 day moving average of $17.44. Fulton Financial has a fifty-two week low of $12.75 and a fifty-two week high of $20.33. 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 (NASDAQ:FULT) last posted its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. The company had revenue of $487.33 million during the quarter, compared to analysts’ expectations of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.14%. During the same period last year, the company posted $0.43 earnings per share. As a group, sell-side analysts forecast that Fulton Financial will post 1.75 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 annualized dividend and a yield of 3.75%. Fulton Financial’s dividend payout ratio (DPR) is currently 43.04%.

Institutional Investors Weigh In On Fulton Financial

Institutional investors have recently made changes to their positions in the company. Family Firm Inc. bought a new stake in shares of Fulton Financial in the 2nd quarter worth about $46,000. Coston McIsaac & Partners purchased a new position in Fulton Financial during the 3rd quarter valued at about $54,000. Blue Trust Inc. increased its position in Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after purchasing an additional 691 shares during the period. Headlands Technologies LLC purchased a new position in Fulton Financial during the 1st quarter valued at about $66,000. Finally, AE Wealth Management LLC purchased a new position in Fulton Financial during the 2nd quarter valued at about $172,000. 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.