Fulton Financial Co. (NASDAQ:FULT) Receives Consensus Recommendation of "Hold" from Analysts

Fulton Financial Co. (NASDAQ:FULT - Get Free Report) has received a consensus rating of "Hold" from the six brokerages that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $20.30.

Several analysts have recently issued reports on the stock. Piper Sandler decreased their target price on shares of Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Keefe, Bruyette & Woods reduced their price target on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $20.00 target price on shares of Fulton Financial in a research report on Wednesday, April 16th.

Institutional Trading of Fulton Financial

Several hedge funds and other institutional investors have recently made changes to their positions in FULT. Jones Financial Companies Lllp lifted its stake in shares of Fulton Financial by 193.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock worth $25,000 after buying an additional 853 shares during the period. Quarry LP raised its position in shares of Fulton Financial by 1,669.6% in the first quarter. Quarry LP now owns 1,982 shares of the bank's stock worth $36,000 after acquiring an additional 1,870 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Fulton Financial by 57.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock valued at $42,000 after purchasing an additional 800 shares during the period. McClarren Financial Advisors Inc. acquired a new position in Fulton Financial during the fourth quarter worth $44,000. Finally, GAMMA Investing LLC lifted its stake in Fulton Financial by 42.2% in the 1st quarter. GAMMA Investing LLC now owns 3,072 shares of the bank's stock valued at $56,000 after buying an additional 911 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.

Fulton Financial Price Performance

FULT traded up $0.43 on Friday, hitting $17.44. 877,082 shares of the company's stock traded hands, compared to its average volume of 1,413,467. Fulton Financial has a one year low of $14.33 and a one year high of $22.49. The company's 50 day simple moving average is $16.84 and its 200-day simple moving average is $18.82. 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 firm has a market cap of $3.17 billion, a price-to-earnings ratio of 11.11 and a beta of 0.77.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. The firm had revenue of $322.64 million for the quarter, compared to analysts' expectations of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period in the previous year, the firm posted $0.40 earnings per share. As a group, research analysts anticipate that Fulton Financial will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Tuesday, April 1st. Fulton Financial's payout ratio is currently 42.35%.

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.