Fulton Financial Corp. (NASDAQ:FULT) has earned an average recommendation of “Hold” from the nine research firms that are presently covering the stock. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $13.70.
FULT has been the subject of several recent analyst reports. Zacks Investment Research upgraded Fulton Financial Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Tuesday, September 20th. FBR & Co reiterated a “hold” rating on shares of Fulton Financial Corp. in a research report on Wednesday, July 20th. Finally, Hovde Group assumed coverage on Fulton Financial Corp. in a research report on Monday, September 12th. They set an “outperform” rating and a $16.00 target price for the company.
In other Fulton Financial Corp. news, COO Philmer H. Rohrbaugh bought 14,000 shares of Fulton Financial Corp. stock in a transaction on Tuesday, August 16th. The shares were acquired at an average price of $13.96 per share, for a total transaction of $195,440.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Moxley III bought 9,896 shares of Fulton Financial Corp. stock in a transaction on Wednesday, July 27th. The stock was acquired at an average price of $13.71 per share, for a total transaction of $135,674.16. The disclosure for this purchase can be found here. Corporate insiders own 0.75% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in Fulton Financial Corp. by 77.3% in the second quarter. Victory Capital Management Inc. now owns 7,989 shares of the company’s stock worth $108,000 after buying an additional 3,484 shares during the last quarter. Sei Investments Co. raised its stake in Fulton Financial Corp. by 33,879.3% in the second quarter. Sei Investments Co. now owns 9,854 shares of the company’s stock worth $133,000 after buying an additional 9,825 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Fulton Financial Corp. by 34.0% in the first quarter. Envestnet Asset Management Inc. now owns 10,307 shares of the company’s stock worth $138,000 after buying an additional 2,615 shares during the last quarter. LS Investment Advisors LLC raised its stake in Fulton Financial Corp. by 76.7% in the second quarter. LS Investment Advisors LLC now owns 10,458 shares of the company’s stock worth $141,000 after buying an additional 4,538 shares during the last quarter. Finally, SevenBridge Financial Group LLC acquired a new stake in Fulton Financial Corp. during the second quarter worth $154,000. Institutional investors and hedge funds own 59.12% of the company’s stock.
Fulton Financial Corp. (NASDAQ:FULT) opened at 14.52 on Wednesday. The firm has a market cap of $2.51 billion, a P/E ratio of 16.73 and a beta of 1.28. Fulton Financial Corp. has a 12-month low of $11.48 and a 12-month high of $14.86. The firm’s 50-day moving average is $14.31 and its 200 day moving average is $13.82.
Fulton Financial Corp. (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Fulton Financial Corp. had a return on equity of 7.31% and a net margin of 19.52%. Equities analysts forecast that Fulton Financial Corp. will post $0.91 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.40 annualized dividend and a yield of 2.75%. Fulton Financial Corp.’s payout ratio is presently 45.98%.
About Fulton Financial Corp.
Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.
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