Fulton Financial Co. (NASDAQ:FULT) Given Average Recommendation of "Hold" by Brokerages

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

FULT has been the topic of several research reports. Keefe, Bruyette & Woods lowered 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 report on Thursday, April 17th. Piper Sandler dropped their target price on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. DA Davidson reiterated a "neutral" rating and set a $20.00 price target on shares of Fulton Financial in a research report on Wednesday, April 16th. StockNews.com upgraded Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, Hovde Group lifted their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a report on Monday, January 27th.

Institutional Investors Weigh In On Fulton Financial

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Fulton Financial by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 22,383,504 shares of the bank's stock valued at $431,554,000 after purchasing an additional 285,376 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Fulton Financial by 5.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,321,387 shares of the bank's stock worth $83,316,000 after acquiring an additional 216,118 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Fulton Financial by 35.3% during the 4th quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank's stock worth $49,782,000 after acquiring an additional 673,559 shares during the period. Janus Henderson Group PLC boosted its position in shares of Fulton Financial by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 2,517,149 shares of the bank's stock valued at $48,530,000 after acquiring an additional 47,338 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Fulton Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank's stock valued at $45,837,000 after purchasing an additional 19,329 shares during the period. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Fulton Financial Stock Up 4.4%

Fulton Financial stock opened at $18.21 on Tuesday. 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 stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 11.60 and a beta of 0.76. The business has a fifty day moving average price of $17.03 and a 200-day moving average price of $19.12. Fulton Financial has a 1-year low of $14.33 and a 1-year high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.08. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. The company had revenue of $322.64 million during the quarter, compared to analysts' expectations of $315.07 million. During the same period last year, the business earned $0.40 EPS. Equities research analysts forecast that Fulton Financial will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.95%. The ex-dividend date was Tuesday, April 1st. Fulton Financial's payout ratio is 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.

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