Fulton Financial Corp (NASDAQ:FULT) Receives $19.25 Consensus PT from Analysts

Shares of Fulton Financial Corp (NASDAQ:FULT) have received an average recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $19.25.

FULT has been the subject of several research reports. BidaskClub raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Friday, June 28th. ValuEngine downgraded Fulton Financial from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Zacks Investment Research downgraded Fulton Financial from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial in a report on Wednesday, July 17th.

Institutional investors have recently made changes to their positions in the business. NumerixS Investment Technologies Inc acquired a new stake in Fulton Financial during the 2nd quarter valued at $25,000. Advisory Services Network LLC lifted its holdings in shares of Fulton Financial by 34.9% during the second quarter. Advisory Services Network LLC now owns 2,418 shares of the bank’s stock worth $40,000 after buying an additional 625 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Fulton Financial during the second quarter worth $62,000. CWM LLC lifted its holdings in shares of Fulton Financial by 8.3% during the second quarter. CWM LLC now owns 8,722 shares of the bank’s stock worth $143,000 after buying an additional 667 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in shares of Fulton Financial during the second quarter worth $166,000. 64.69% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:FULT traded up $0.16 during midday trading on Wednesday, hitting $15.88. The stock had a trading volume of 472,185 shares, compared to its average volume of 944,371. Fulton Financial has a 12 month low of $14.38 and a 12 month high of $17.60. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. The business’s 50-day simple moving average is $16.07 and its 200-day simple moving average is $16.30. The company has a market cap of $2.64 billion, a P/E ratio of 13.45 and a beta of 1.02.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, July 16th. The bank reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Fulton Financial had a net margin of 23.75% and a return on equity of 10.51%. The business had revenue of $221.94 million during the quarter, compared to analysts’ expectations of $218.51 million. During the same period last year, the business earned $0.20 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts predict that Fulton Financial will post 1.39 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.28%. The ex-dividend date is Monday, September 30th. Fulton Financial’s dividend payout ratio is 44.07%.

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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