Fulton Financial (FULT) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Fulton Financial (NASDAQ:FULT) from a sell rating to a hold rating in a report released on Tuesday morning.

A number of other research analysts have also issued reports on the company. Barclays upgraded Fulton Financial from an underweight rating to an overweight rating and lifted their target price for the company from $18.00 to $19.00 in a report on Wednesday, October 3rd. Zacks Investment Research upgraded Fulton Financial from a hold rating to a buy rating and set a $20.00 target price for the company in a report on Wednesday, August 29th. ValuEngine lowered Fulton Financial from a hold rating to a sell rating in a report on Monday, September 24th. Hovde Group set a $19.00 target price on Fulton Financial and gave the company a hold rating in a report on Monday, July 23rd. Finally, Boenning Scattergood reiterated a hold rating on shares of Fulton Financial in a report on Wednesday, October 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $18.83.

Shares of NASDAQ FULT opened at $16.30 on Tuesday. Fulton Financial has a twelve month low of $15.05 and a twelve month high of $19.55. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $2.76 billion, a PE ratio of 15.23, a PEG ratio of 1.69 and a beta of 1.05.



Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, October 16th. The bank reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.04. The business had revenue of $214.23 million during the quarter, compared to analysts’ expectations of $209.72 million. Fulton Financial had a return on equity of 8.89% and a net margin of 20.45%. During the same period in the previous year, the firm posted $0.28 earnings per share. As a group, research analysts anticipate that Fulton Financial will post 1.19 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were issued a $0.12 dividend. The ex-dividend date was Friday, September 28th. This represents a $0.48 dividend on an annualized basis and a yield of 2.94%. Fulton Financial’s dividend payout ratio (DPR) is presently 44.86%.

A number of large investors have recently added to or reduced their stakes in the stock. Wagner Bowman Management Corp lifted its holdings in Fulton Financial by 66.1% during the 3rd quarter. Wagner Bowman Management Corp now owns 20,742 shares of the bank’s stock worth $345,000 after buying an additional 8,256 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Fulton Financial by 1.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 900,737 shares of the bank’s stock worth $14,998,000 after buying an additional 11,652 shares during the last quarter. Tower Bridge Advisors lifted its holdings in Fulton Financial by 29.2% during the 3rd quarter. Tower Bridge Advisors now owns 15,785 shares of the bank’s stock worth $263,000 after buying an additional 3,563 shares during the last quarter. Foundry Partners LLC lifted its holdings in Fulton Financial by 0.3% during the 3rd quarter. Foundry Partners LLC now owns 1,347,519 shares of the bank’s stock worth $22,436,000 after buying an additional 4,223 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its holdings in Fulton Financial by 545.6% during the 3rd quarter. Toth Financial Advisory Corp now owns 20,175 shares of the bank’s stock worth $336,000 after buying an additional 17,050 shares during the last quarter. Hedge funds and other institutional investors own 62.83% of the company’s stock.

About Fulton Financial

Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.

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Analyst Recommendations for Fulton Financial (NASDAQ:FULT)

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