Fulton Financial Corporation (NASDAQ:FULT) Receives $21.13 Consensus Price Target from Analysts

Key Points

• Fulton Financial Corporation (NASDAQ:FULT) has received a consensus rating of "Hold" from six rating firms, with one analyst recommending a buy; the average twelve-month target price is $21.1250.
• During a recent transaction, Director E Philip Wenger sold 5,000 shares at an average price of $18.41, decreasing his position by 0.83% but still holding 599,102 shares valued at over $11 million.
• The company announced a quarterly dividend of $0.18 per share, resulting in a dividend yield of 3.9% and a payout ratio of 42.11%.

Fulton Financial Corporation (NASDAQ:FULT - Get Free Report) has received a consensus rating of "Hold" from the six research firms that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $21.1250.

FULT has been the subject of several recent analyst reports. Piper Sandler reiterated a "neutral" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods raised their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Jefferies Financial Group reiterated a "hold" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Finally, DA Davidson raised their price objective on shares of Fulton Financial from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $18.41, for a total transaction of $92,050.00. Following the completion of the transaction, the director owned 599,102 shares in the company, valued at approximately $11,029,467.82. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.07% of the company's stock.

Hedge Funds Weigh In On Fulton Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in Fulton Financial by 373.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank's stock worth $30,000 after acquiring an additional 1,311 shares during the last quarter. State of Wyoming acquired a new stake in Fulton Financial during the second quarter worth approximately $30,000. Quarry LP boosted its position in Fulton Financial by 1,669.6% during 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 last quarter. GAMMA Investing LLC boosted its position in Fulton Financial by 42.2% during the first quarter. GAMMA Investing LLC now owns 3,072 shares of the bank's stock worth $56,000 after acquiring an additional 911 shares during the last quarter. Finally, Byrne Asset Management LLC boosted its position in Fulton Financial by 114.5% during the first quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank's stock worth $58,000 after acquiring an additional 1,717 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Stock Performance

Shares of FULT stock traded up $0.13 during mid-day trading on Thursday, hitting $19.76. The stock had a trading volume of 1,542,701 shares, compared to its average volume of 1,563,164. Fulton Financial has a fifty-two week low of $14.32 and a fifty-two week high of $22.49. The firm has a market cap of $3.60 billion, a PE ratio of 11.56 and a beta of 0.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.92. The company's 50-day simple moving average is $18.56 and its 200-day simple moving average is $18.02.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. Fulton Financial had a net margin of 17.00% and a return on equity of 12.64%. The company had revenue of $328.45 million during the quarter, compared to analysts' expectations of $320.47 million. During the same quarter last year, the business earned $0.52 EPS. Sell-side analysts anticipate that Fulton Financial will post 1.91 earnings per share for the current year.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, July 1st. This represents a $0.72 dividend on an annualized basis and a yield of 3.6%. Fulton Financial's payout ratio is presently 42.11%.

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.