Fulton Financial Corporation (NASDAQ:FULT) Receives $23.50 Consensus Target Price from Analysts

Shares of Fulton Financial Corporation (NASDAQ:FULT) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $23.50.

Several analysts have recently issued reports on FULT shares. Wall Street Zen cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 3rd. Weiss Ratings raised shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Piper Sandler set a $23.00 price objective on shares of Fulton Financial and gave the company a “neutral” rating in a report on Friday, June 12th. Finally, Raymond James Financial upped their target price on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st.

Insider Buying and Selling at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $24.14, for a total transaction of $120,700.00. Following the sale, the director owned 75,477 shares of the company’s stock, valued at approximately $1,822,014.78. This represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FULT. Keybank National Association OH boosted its stake in shares of Fulton Financial by 1.5% in the 1st quarter. Keybank National Association OH now owns 32,887 shares of the bank’s stock valued at $669,000 after buying an additional 485 shares during the period. Cetera Investment Advisers increased its stake in shares of Fulton Financial by 2.6% during the first quarter. Cetera Investment Advisers now owns 21,829 shares of the bank’s stock worth $444,000 after buying an additional 557 shares during the period. State of Wyoming raised its holdings in Fulton Financial by 13.4% in the first quarter. State of Wyoming now owns 4,829 shares of the bank’s stock valued at $98,000 after acquiring an additional 570 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Fulton Financial by 2.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 23,924 shares of the bank’s stock valued at $467,000 after acquiring an additional 580 shares in the last quarter. Finally, Root Financial Partners LLC raised its holdings in Fulton Financial by 89.9% in the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after acquiring an additional 607 shares in the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Trading Up 3.2%

Shares of NASDAQ FULT opened at $25.19 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.81 billion, a PE ratio of 12.00 and a beta of 0.79. Fulton Financial has a twelve month low of $16.60 and a twelve month high of $25.23. The stock has a fifty day simple moving average of $22.70 and a 200-day simple moving average of $21.47.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.The firm had revenue of $331.86 million for the quarter, compared to analyst estimates of $359.36 million. During the same quarter in the prior year, the company earned $0.52 EPS. On average, equities analysts forecast that Fulton Financial will post 2.18 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a $0.19 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.76 annualized dividend and a dividend yield of 3.0%. Fulton Financial’s payout ratio is 36.19%.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.