Fulton Financial Corporation (NASDAQ:FULT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Fulton Financial Corporation (NASDAQ:FULT) have received an average recommendation of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $20.90.

FULT has been the topic of several recent research reports. Weiss Ratings lowered Fulton Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Keefe, Bruyette & Woods increased their price objective on Fulton Financial from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Wednesday, November 26th. Raymond James Financial raised shares of Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, October 7th. Finally, Zacks Research lowered shares of Fulton Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th.

Insider Activity

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $19.28, for a total transaction of $96,400.00. Following the completion of the transaction, the director owned 90,477 shares of the company’s stock, valued at $1,744,396.56. This represents a 5.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Fulton Financial

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in Fulton Financial by 373.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank’s stock worth $30,000 after acquiring an additional 1,311 shares during the period. State of Wyoming bought a new position in Fulton Financial in the 2nd quarter worth $30,000. Parallel Advisors LLC lifted its position in shares of Fulton Financial by 69.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,903 shares of the bank’s stock worth $35,000 after purchasing an additional 777 shares during the period. Quarry LP lifted its position in shares of Fulton Financial by 1,669.6% in the 1st quarter. Quarry LP now owns 1,982 shares of the bank’s stock worth $36,000 after purchasing an additional 1,870 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in shares of Fulton Financial by 48.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,995 shares of the bank’s stock valued at $38,000 after purchasing an additional 647 shares in the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Trading Up 2.5%

FULT stock opened at $18.76 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial has a one year low of $14.32 and a one year high of $21.55. The company’s 50 day moving average price is $17.90 and its two-hundred day moving average price is $18.26. The company has a market capitalization of $3.39 billion, a PE ratio of 9.82 and a beta of 0.86.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, November 8th. The bank reported $0.45 earnings per share for the quarter. Fulton Financial had a net margin of 19.01% and a return on equity of 12.75%. The business had revenue of $236.96 million during the quarter. As a group, analysts predict that Fulton Financial will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, October 1st. Fulton Financial’s dividend payout ratio is 37.70%.

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.