Fulton Financial Co. (NASDAQ:FULT) Receives $20.64 Average Target Price from Analysts

Shares of Fulton Financial Co. (NASDAQ:FULT) have been given a consensus recommendation of “Hold” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $20.64.

Several brokerages have weighed in on FULT. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price target on shares of Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, January 23rd. Stephens raised shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a report on Thursday, October 17th. Finally, Hovde Group increased their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a report on Monday, January 27th.

Fulton Financial Stock Performance

NASDAQ:FULT opened at $20.31 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $20.32 and its 200-day moving average price is $19.26. Fulton Financial has a twelve month low of $13.87 and a twelve month high of $22.49. The company has a market cap of $3.70 billion, a P/E ratio of 12.94 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same quarter in the previous year, the company earned $0.42 earnings per share. On average, sell-side analysts forecast that Fulton Financial will post 1.89 earnings per share for the current fiscal year.

Fulton Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.18 per share. This is a boost from Fulton Financial’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Tuesday, December 31st. Fulton Financial’s dividend payout ratio is currently 45.86%.

Insider Transactions at Fulton Financial

In related news, CEO Curtis J. Myers sold 24,192 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the transaction, the chief executive officer now owns 155,946 shares of the company’s stock, valued at $3,299,817.36. This trade represents a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Angela M. Snyder sold 13,322 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.69, for a total value of $275,632.18. Following the sale, the president now directly owns 63,682 shares of the company’s stock, valued at approximately $1,317,580.58. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On Fulton Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in shares of Fulton Financial by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 567,790 shares of the bank’s stock worth $11,007,000 after buying an additional 34,844 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Fulton Financial by 130.4% during the third quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock worth $10,104,000 after acquiring an additional 315,435 shares during the period. EMC Capital Management raised its position in Fulton Financial by 151.2% in the fourth quarter. EMC Capital Management now owns 22,607 shares of the bank’s stock worth $436,000 after acquiring an additional 13,607 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Fulton Financial in the third quarter valued at $3,489,000. Finally, Geode Capital Management LLC lifted its holdings in Fulton Financial by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank’s stock valued at $79,264,000 after acquiring an additional 85,574 shares during the period. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

About Fulton Financial

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.