Fulton Financial Co. (NASDAQ:FULT) Given Average Recommendation of “Hold” by Brokerages

Shares of Fulton Financial Co. (NASDAQ:FULT) have been given a consensus rating of “Hold” by the five analysts that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $18.00.

FULT has been the subject of several research reports. Jefferies Financial Group reduced their price objective on Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a report on Monday, April 8th. DA Davidson boosted their price objective on shares of Fulton Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. Janney Montgomery Scott raised shares of Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price objective on the stock in a research note on Monday, April 29th. Stephens lifted their target price on shares of Fulton Financial from $15.50 to $17.50 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Fulton Financial from $17.00 to $19.00 and gave the company a “market perform” rating in a research report on Tuesday, April 30th.

Fulton Financial Stock Performance

NASDAQ:FULT opened at $16.98 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.35. Fulton Financial has a fifty-two week low of $11.47 and a fifty-two week high of $17.68. The firm’s fifty day simple moving average is $16.57 and its 200-day simple moving average is $15.99. The stock has a market cap of $3.09 billion, a PE ratio of 10.55 and a beta of 0.75.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, April 16th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $230.36 million during the quarter, compared to analysts’ expectations of $268.90 million. Fulton Financial had a net margin of 18.31% and a return on equity of 11.73%. Analysts expect that Fulton Financial will post 1.55 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Monday, July 1st. Fulton Financial’s dividend payout ratio is presently 42.24%.

Institutional Investors Weigh In On Fulton Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morton Brown Family Wealth LLC purchased a new stake in Fulton Financial in the 4th quarter valued at about $26,000. Blue Trust Inc. increased its position in Fulton Financial by 82.8% during the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after purchasing an additional 781 shares during the last quarter. Strs Ohio acquired a new position in shares of Fulton Financial in the 4th quarter valued at $29,000. Disciplined Equity Management Inc. purchased a new stake in shares of Fulton Financial during the 4th quarter valued at $32,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Fulton Financial during the 1st quarter worth $36,000. Hedge funds and other 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.