Fulton Financial Corporation (NASDAQ:FULT) Receives $20.30 Average Target Price from Analysts

Shares of Fulton Financial Corporation (NASDAQ:FULT - Get Free Report) have earned a consensus recommendation of "Hold" from the five ratings firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $20.88.

A number of equities research analysts have recently weighed in on FULT shares. Keefe, Bruyette & Woods dropped their price objective on Fulton Financial from $24.00 to $21.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. DA Davidson reaffirmed a "neutral" rating and issued a $20.00 price objective on shares of Fulton Financial in a research note on Wednesday, April 16th. Finally, Piper Sandler decreased their target price on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, April 17th.

Fulton Financial Trading Up 1.1%

FULT stock traded up $0.22 during midday trading on Wednesday, hitting $19.10. 826,129 shares of the company's stock were exchanged, compared to its average volume of 1,408,051. The business has a 50-day simple moving average of $17.58 and a two-hundred day simple moving average of $18.36. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $3.47 billion, a PE ratio of 11.23 and a beta of 0.77. 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 issued its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. Fulton Financial had a return on equity of 12.19% and a net margin of 16.59%. The business had revenue of $322.64 million during the quarter, compared to analysts' expectations of $315.07 million. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, sell-side analysts predict that Fulton Financial will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.72 dividend on an annualized basis and a yield of 3.77%. Fulton Financial's dividend payout ratio (DPR) is presently 42.35%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FULT. Proficio Capital Partners LLC purchased a new stake in Fulton Financial during the 4th quarter worth about $279,000. Jones Financial Companies Lllp lifted its holdings in Fulton Financial by 193.4% during the 4th 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Fulton Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank's stock worth $45,837,000 after buying an additional 19,329 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Fulton Financial during the 4th quarter worth about $1,676,000. Finally, Edgestream Partners L.P. lifted its holdings in Fulton Financial by 14.4% during the 4th quarter. Edgestream Partners L.P. now owns 289,355 shares of the bank's stock worth $5,579,000 after buying an additional 36,455 shares during the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

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.