Fulton Financial Corporation (NASDAQ:FULT) Receives $21.13 Average Price Target from Brokerages

Key Points

• Fulton Financial Corporation has been rated an average of "Hold" by six analysts, with five recommending a hold and one giving a buy recommendation, while the average price target is set at $21.13.
• Recent quarterly earnings show Fulton Financial exceeded expectations with an EPS of $0.55 compared to a consensus estimate of $0.43, along with a revenue of $328.45 million.
• The company has a strong dividend yield of 3.87%, having recently paid a quarterly dividend of $0.18 per share, with a payout ratio of 42.11%.

Fulton Financial Corporation (NASDAQ:FULT - Get Free Report) has been given an average rating of "Hold" by the six analysts that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $21.13.

FULT has been the subject of a number of analyst reports. DA Davidson boosted their price target on Fulton Financial from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods boosted their price target on Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Finally, Piper Sandler reissued a "neutral" rating on shares of Fulton Financial in a research report on Wednesday, July 9th.

Fulton Financial Stock Up 0.2%

NASDAQ FULT traded up $0.05 on Friday, reaching $18.48. The stock had a trading volume of 160,504 shares, compared to its average volume of 1,422,313. The business has a 50 day moving average price of $18.12 and a 200 day moving average price of $18.31. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. Fulton Financial has a 1 year low of $14.32 and a 1 year high of $22.49. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 10.80 and a beta of 0.77.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its earnings results on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.12. Fulton Financial had a return on equity of 12.44% and a net margin of 17.00%. The firm had revenue of $328.45 million for the quarter, compared to the consensus estimate of $320.47 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, analysts forecast that Fulton Financial will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a $0.18 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.90%. Fulton Financial's payout ratio is presently 42.11%.

Insider Activity

In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $18.41, for a total value of $92,050.00. Following the completion of the transaction, the director directly owned 599,102 shares of the company's stock, valued at approximately $11,029,467.82. This represents a 0.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.07% of the company's stock.

Institutional Investors Weigh In On Fulton Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Fulton Financial in the 4th quarter valued at $1,676,000. Xponance Inc. boosted its position in Fulton Financial by 9.5% in the 4th quarter. Xponance Inc. now owns 13,058 shares of the bank's stock valued at $252,000 after buying an additional 1,132 shares during the last quarter. Sei Investments Co. boosted its position in Fulton Financial by 43.2% in the 4th quarter. Sei Investments Co. now owns 17,315 shares of the bank's stock valued at $334,000 after buying an additional 5,225 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Fulton Financial in the 4th quarter valued at $698,000. Finally, LPL Financial LLC bought a new position in Fulton Financial in the 4th quarter valued at $289,000. 72.02% of the stock is owned by institutional investors and hedge funds.

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.