Fulton Financial Corp.’s (FULT) Market Perform Rating Reiterated at Keefe, Bruyette & Woods
Fulton Financial Corp. (NASDAQ:FULT)‘s stock had its “market perform” rating reiterated by analysts at Keefe, Bruyette & Woods in a note issued to investors on Wednesday.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Fulton Financial Corp. from a “buy” rating to a “hold” rating in a research report on Monday, September 26th. Hovde Group began coverage on shares of Fulton Financial Corp. in a research report on Monday, September 12th. They issued an “outperform” rating and a $16.00 target price for the company. Finally, FBR & Co reissued a “hold” rating on shares of Fulton Financial Corp. in a research report on Wednesday, July 20th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.25.
Fulton Financial Corp. (NASDAQ:FULT) traded up 0.34% during midday trading on Wednesday, reaching $14.58. 263,155 shares of the company’s stock traded hands. The company has a market cap of $2.52 billion, a P/E ratio of 16.80 and a beta of 1.19. The stock has a 50-day moving average of $14.42 and a 200 day moving average of $13.88. Fulton Financial Corp. has a 52-week low of $11.48 and a 52-week high of $14.86.
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Fulton Financial Corp. (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, July 19th. The company reported $0.23 EPS for the quarter, topping the Zacks’ 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%. On average, analysts anticipate that Fulton Financial Corp. will post $0.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.40 annualized dividend and a yield of 2.75%. Fulton Financial Corp.’s dividend payout ratio is 45.98%.
In related news, EVP Curtis J. Myers sold 15,580 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $14.34, for a total transaction of $223,417.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Philmer H. Rohrbaugh acquired 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were purchased at an average cost of $13.96 per share, with a total value of $195,440.00. The disclosure for this purchase can be found here. Corporate insiders own 0.75% of the company’s stock.
A number of large investors have recently bought and sold shares of FULT. Victory Capital Management Inc. boosted its stake in Fulton Financial Corp. by 77.3% in the second quarter. Victory Capital Management Inc. now owns 7,989 shares of the company’s stock valued at $108,000 after buying an additional 3,484 shares in the last quarter. Sei Investments Co. boosted its stake in Fulton Financial Corp. by 33,879.3% in the second quarter. Sei Investments Co. now owns 9,854 shares of the company’s stock valued at $133,000 after buying an additional 9,825 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Fulton Financial Corp. by 76.7% in the second quarter. LS Investment Advisors LLC now owns 10,458 shares of the company’s stock valued at $141,000 after buying an additional 4,538 shares in the last quarter. SevenBridge Financial Group LLC purchased a new stake in Fulton Financial Corp. during the second quarter valued at $154,000. Finally, Wagner Bowman Management Corp boosted its stake in Fulton Financial Corp. by 0.6% in the second quarter. Wagner Bowman Management Corp now owns 11,878 shares of the company’s stock valued at $160,000 after buying an additional 74 shares in the last quarter. 59.12% of the stock is owned by institutional investors and hedge funds.
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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