Fulton Financial (NASDAQ:FULT) Hits New 1-Year High – What’s Next?

Fulton Financial Co. (NASDAQ:FULT)’s stock price reached a new 52-week high on Friday . The company traded as high as $21.72 and last traded at $21.68, with a volume of 402607 shares trading hands. The stock had previously closed at $21.24.

Analyst Upgrades and Downgrades

FULT has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Fulton Financial currently has a consensus rating of “Hold” and a consensus price target of $18.83.

Fulton Financial Stock Performance

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.93 billion, a PE ratio of 13.47 and a beta of 0.73. The business’s fifty day moving average is $18.67 and its 200-day moving average is $17.94.

Fulton Financial (NASDAQ:FULT) last issued its quarterly 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. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The business had revenue of $487.33 million for the quarter, compared to the consensus estimate of $321.00 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. As a group, research analysts predict that Fulton Financial Co. will post 1.74 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, October 1st. Fulton Financial’s payout ratio is currently 43.04%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Miller Howard Investments Inc. NY boosted its stake in shares of Fulton Financial by 2.4% during the second quarter. Miller Howard Investments Inc. NY now owns 22,132 shares of the bank’s stock valued at $376,000 after purchasing an additional 527 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Fulton Financial by 3.7% during the second quarter. CIBC Asset Management Inc now owns 16,883 shares of the bank’s stock valued at $287,000 after acquiring an additional 605 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Fulton Financial by 11.6% during the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after acquiring an additional 676 shares in the last quarter. Blue Trust Inc. increased 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 acquiring an additional 691 shares in the last quarter. Finally, Meridian Wealth Partners LLC increased its holdings in Fulton Financial by 4.7% in the 2nd quarter. Meridian Wealth Partners LLC now owns 27,557 shares of the bank’s stock worth $468,000 after buying an additional 1,230 shares during the period. 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.