Fulton Financial Co. (NASDAQ:FULT) Given Consensus Rating of "Hold" by Brokerages

Fulton Financial Co. (NASDAQ:FULT - Get Free Report) has received an average rating of "Hold" from the six ratings firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $20.30.

Several analysts have recently commented on the company. DA Davidson reaffirmed a "neutral" rating and issued a $20.00 target price on shares of Fulton Financial in a research report on Wednesday, April 16th. Piper Sandler reduced their price objective on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. StockNews.com raised Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods reduced their price objective on Fulton Financial from $24.00 to $21.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Finally, Hovde Group lifted their price objective on Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a research report on Monday, January 27th.

Fulton Financial Stock Performance

Shares of NASDAQ FULT traded down $0.10 during mid-day trading on Tuesday, hitting $18.20. The company had a trading volume of 940,278 shares, compared to its average volume of 1,444,150. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 11.59 and a beta of 0.76. Fulton Financial has a 12 month low of $14.33 and a 12 month high of $22.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The firm's 50 day simple moving average is $17.06 and its two-hundred day simple moving average is $19.12.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. The company 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 quarter in the prior year, the company earned $0.40 earnings per share. As a group, equities research analysts forecast that Fulton Financial will post 1.91 earnings per share for the current year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a $0.18 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.96%. Fulton Financial's dividend payout ratio is currently 42.35%.

Hedge Funds Weigh In On Fulton Financial

Several large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Fulton Financial during the 4th quarter worth approximately $38,010,000. Nuveen LLC acquired a new stake in Fulton Financial during the 1st quarter worth $17,263,000. Millennium Management LLC raised its stake in Fulton Financial by 149.9% during the 4th quarter. Millennium Management LLC now owns 1,478,735 shares of the bank's stock worth $28,510,000 after buying an additional 886,991 shares during the period. JPMorgan Chase & Co. raised its stake in Fulton Financial by 137.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank's stock worth $25,500,000 after buying an additional 765,313 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in Fulton Financial by 133.7% during the 4th quarter. Nuveen Asset Management LLC now owns 1,239,500 shares of the bank's stock worth $23,898,000 after buying an additional 709,015 shares during the period. Institutional investors and hedge funds own 72.02% of the company's stock.

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.