Fulton Financial Corp. (FULT) Given “Market Perform” Rating at Keefe, Bruyette & Woods
Fulton Financial Corp. (NASDAQ:FULT)‘s stock had its “market perform” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Wednesday.
Several other equities analysts have also commented on FULT. Zacks Investment Research lowered shares of Fulton Financial Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 27th. FBR & Co reaffirmed a “hold” rating on shares of Fulton Financial Corp. in a report on Wednesday, July 20th. Finally, Hovde Group began coverage on shares of Fulton Financial Corp. in a report on Monday, September 12th. They set an “outperform” rating and a $16.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Fulton Financial Corp. has an average rating of “Hold” and an average price target of $14.25.
Fulton Financial Corp. (NASDAQ:FULT) traded up 0.34% during midday trading on Wednesday, hitting $14.58. 272,174 shares of the stock traded hands. Fulton Financial Corp. has a 52 week low of $11.48 and a 52 week high of $14.86. The stock has a market capitalization of $2.52 billion, a P/E ratio of 16.80 and a beta of 1.19. The stock’s 50-day moving average price is $14.42 and its 200-day moving average price is $13.88.
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Fulton Financial Corp. (NASDAQ:FULT) last released its earnings results on Tuesday, July 19th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Fulton Financial Corp. had a net margin of 19.52% and a return on equity of 7.31%. Equities research analysts expect that Fulton Financial Corp. will post $0.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.10 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.75%. Fulton Financial Corp.’s dividend payout ratio is 45.98%.
In other news, EVP Curtis J. Myers sold 15,580 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.34, for a total value of $223,417.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Moxley III bought 9,896 shares of the company’s stock in a transaction dated Wednesday, July 27th. The stock was bought at an average cost of $13.71 per share, with a total value of $135,674.16. The disclosure for this purchase can be found here. 0.75% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of FULT. Dimensional Fund Advisors LP boosted its stake in Fulton Financial Corp. by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 13,548,422 shares of the company’s stock valued at $182,902,000 after buying an additional 673,829 shares in the last quarter. Vanguard Group Inc. boosted its stake in Fulton Financial Corp. by 3.8% in the second quarter. Vanguard Group Inc. now owns 13,009,839 shares of the company’s stock valued at $175,633,000 after buying an additional 480,635 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Fulton Financial Corp. by 1.3% in the second quarter. BlackRock Fund Advisors now owns 8,859,535 shares of the company’s stock valued at $119,604,000 after buying an additional 116,436 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Fulton Financial Corp. by 3.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,232,975 shares of the company’s stock valued at $70,645,000 after buying an additional 150,581 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Fulton Financial Corp. by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 3,613,949 shares of the company’s stock valued at $48,789,000 after buying an additional 211,857 shares in the last quarter. 59.12% of the stock is owned by hedge funds and other institutional investors.
About Fulton Financial Corp.
Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.
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