Fulton Financial Corporation (FULT) Receives Average Rating of “Hold” from Brokerages
Fulton Financial Corporation (NASDAQ:FULT) has been given an average rating of “Hold” by the ten brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $18.67.
A number of equities analysts have recently weighed in on FULT shares. Stephens started coverage on Fulton Financial Corporation in a report on Thursday, July 13th. They issued an “equal weight” rating for the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Fulton Financial Corporation in a research report on Friday, July 14th. Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial Corporation in a research report on Wednesday, July 19th. Zacks Investment Research downgraded Fulton Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. Finally, BidaskClub downgraded Fulton Financial Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th.
Shares of Fulton Financial Corporation (FULT) opened at 18.20 on Wednesday. Fulton Financial Corporation has a one year low of $14.45 and a one year high of $19.90. The firm has a 50-day moving average price of $18.49 and a 200 day moving average price of $18.23. The stock has a market capitalization of $3.19 billion, a PE ratio of 17.84 and a beta of 1.17.
Fulton Financial Corporation (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, October 17th. The bank reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. Fulton Financial Corporation had a return on equity of 8.28% and a net margin of 21.15%. The company had revenue of $194.19 million during the quarter, compared to analysts’ expectations of $200.00 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Fulton Financial Corporation will post $1.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Monday, October 2nd were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Friday, September 29th. Fulton Financial Corporation’s dividend payout ratio (DPR) is presently 42.72%.
Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in Fulton Financial Corporation by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 3,861,134 shares of the bank’s stock valued at $73,363,000 after acquiring an additional 95,105 shares during the period. Russell Investments Group Ltd. grew its position in Fulton Financial Corporation by 54.4% during the second quarter. Russell Investments Group Ltd. now owns 324,346 shares of the bank’s stock valued at $6,162,000 after acquiring an additional 114,256 shares during the period. Jane Street Group LLC purchased a new stake in Fulton Financial Corporation during the first quarter valued at about $184,000. Chicago Equity Partners LLC grew its position in Fulton Financial Corporation by 24.6% during the second quarter. Chicago Equity Partners LLC now owns 500,662 shares of the bank’s stock valued at $9,513,000 after acquiring an additional 98,852 shares during the period. Finally, First Citizens Bank & Trust Co. purchased a new stake in Fulton Financial Corporation during the second quarter valued at about $393,000. 62.85% of the stock is owned by hedge funds and other institutional investors.
Fulton Financial Corporation Company Profile
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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