Fulton Financial (NASDAQ:FULT) Price Target Raised to $18.00 at DA Davidson

Fulton Financial (NASDAQ:FULT) had its price target lifted by DA Davidson from $15.00 to $18.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the bank’s stock. DA Davidson also issued estimates for Fulton Financial’s Q2 2024 earnings at $0.14 EPS, FY2024 earnings at $1.30 EPS and FY2025 earnings at $1.70 EPS.

Several other research analysts have also recently weighed in on FULT. Keefe, Bruyette & Woods boosted their price target on shares of Fulton Financial from $17.00 to $19.00 and gave the stock a market perform rating in a report on Tuesday. Jefferies Financial Group decreased their price target on Fulton Financial from $17.00 to $16.00 and set a hold rating for the company in a research report on Monday, April 8th. Janney Montgomery Scott raised Fulton Financial from a neutral rating to a buy rating and set a $19.50 price target for the company in a research report on Monday, April 29th. Stephens decreased their price target on Fulton Financial from $16.00 to $15.50 and set an equal weight rating for the company in a research report on Thursday, April 18th. Finally, StockNews.com downgraded Fulton Financial from a hold rating to a sell rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Fulton Financial presently has an average rating of Hold and an average target price of $17.60.

Fulton Financial Price Performance

Shares of NASDAQ:FULT opened at $17.03 on Tuesday. Fulton Financial has a 1-year low of $9.64 and a 1-year high of $17.34. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.76 billion, a PE ratio of 10.58 and a beta of 0.77. The stock’s fifty day simple moving average is $15.41 and its two-hundred day simple moving average is $15.14.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial’s dividend payout ratio (DPR) is 42.24%.

Hedge Funds Weigh In On Fulton Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Morton Brown Family Wealth LLC bought a new position in Fulton Financial during the fourth quarter valued at $26,000. Blue Trust Inc. grew its holdings in Fulton Financial by 82.8% during the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock valued at $28,000 after purchasing an additional 781 shares during the period. Strs Ohio bought a new position in Fulton Financial during the fourth quarter valued at $29,000. Disciplined Equity Management Inc. bought a new position in Fulton Financial during the fourth quarter valued at $32,000. Finally, YHB Investment Advisors Inc. bought a new position in Fulton Financial during the first quarter valued at $36,000. 72.02% of the stock is owned by institutional investors.

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.