Analysts Set Fulton Financial Co. (NASDAQ:FULT) PT at $18.83

Fulton Financial Co. (NASDAQ:FULT) has been assigned an average rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $18.83.

A number of brokerages have weighed in on FULT. StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a report on Thursday, October 17th.

Fulton Financial Price Performance

FULT stock opened at $21.29 on Tuesday. The firm’s 50-day moving average price is $18.67 and its two-hundred day moving average price is $17.94. Fulton Financial has a 12-month low of $13.84 and a 12-month high of $21.65. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 13.47 and a beta of 0.73. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The company had revenue of $487.33 million for the quarter, compared to analysts’ expectations of $321.00 million. During the same quarter in the previous year, the company earned $0.43 earnings per share. As a group, equities analysts predict that Fulton Financial will post 1.74 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.19%. Fulton Financial’s dividend payout ratio is currently 43.04%.

Institutional Trading of Fulton Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Fulton Financial by 4.4% in the 3rd quarter. State Street Corp now owns 10,544,159 shares of the bank’s stock worth $191,166,000 after acquiring an additional 444,219 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Fulton Financial by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank’s stock worth $79,264,000 after acquiring an additional 85,574 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Fulton Financial by 511.1% in the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock worth $55,287,000 after acquiring an additional 2,723,170 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Fulton Financial by 18.6% in the 2nd quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank’s stock worth $51,323,000 after acquiring an additional 474,099 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Fulton Financial by 28.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank’s stock worth $43,164,000 after acquiring an additional 567,771 shares during the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

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.