Fulton Financial Co. (NASDAQ:FULT) Receives $14.60 Average Price Target from Analysts

Fulton Financial Co. (NASDAQ:FULT) has received an average rating of “Hold” from the four ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $15.40.

Several research analysts have recently issued reports on the stock. Jefferies Financial Group reduced their target price on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Keefe, Bruyette & Woods raised their target price on shares of Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. Stephens reaffirmed an “equal weight” rating and set a $16.00 price objective on shares of Fulton Financial in a research report on Wednesday, January 17th. Finally, StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd raised its holdings in shares of Fulton Financial by 11.7% during the first quarter. Point72 Hong Kong Ltd now owns 7,082 shares of the bank’s stock valued at $118,000 after acquiring an additional 742 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Fulton Financial by 82.8% in the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after acquiring an additional 781 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Fulton Financial by 0.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 192,540 shares of the bank’s stock worth $3,240,000 after acquiring an additional 796 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Fulton Financial by 1.3% in the fourth quarter. Wells Fargo & Company MN now owns 64,949 shares of the bank’s stock worth $1,093,000 after acquiring an additional 814 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Fulton Financial by 7.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 11,611 shares of the bank’s stock worth $183,000 after acquiring an additional 852 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Trading Down 0.7 %

Shares of FULT stock opened at $14.82 on Monday. Fulton Financial has a 52-week low of $9.64 and a 52-week high of $17.06. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 9.04 and a beta of 0.81. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a fifty day moving average of $15.37 and a 200-day moving average of $14.81.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Wednesday, January 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Fulton Financial had a net margin of 18.94% and a return on equity of 12.01%. The business had revenue of $271.38 million during the quarter, compared to analysts’ expectations of $268.70 million. During the same quarter last year, the company posted $0.48 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts forecast that Fulton Financial will post 1.52 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.59%. The ex-dividend date is Thursday, March 28th. Fulton Financial’s dividend payout ratio (DPR) is presently 41.46%.

About Fulton Financial

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.