Fulton Financial Corporation (NASDAQ:FULT) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Fulton Financial Corporation (NASDAQ:FULT) has received a consensus recommendation of "Hold" from six brokerages, with an average one-year price target of $21.1250.
• The company reported an EPS of $0.55 for the quarter, surpassing analysts' estimates, and had a quarterly revenue of $328.45 million.
• Fulton Financial declared a quarterly dividend of $0.18 per share, which results in an annualized yield of 3.7%.

Shares of Fulton Financial Corporation (NASDAQ:FULT - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six brokerages that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $21.1250.

A number of research analysts recently commented on FULT shares. Piper Sandler restated a "neutral" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Jefferies Financial Group reiterated a "hold" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods increased their price objective on Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Finally, DA Davidson increased their price objective on Fulton Financial from $17.00 to $20.00 and gave the stock 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 the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $18.41, for a total transaction of $92,050.00. Following the completion of the transaction, the director directly owned 599,102 shares in the company, valued at $11,029,467.82. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.07% of the stock is owned by corporate insiders.

Institutional Trading of Fulton Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new stake in shares of Fulton Financial in the second quarter valued at $647,000. Thrivent Financial for Lutherans increased its stake in shares of Fulton Financial by 16.3% in the second quarter. Thrivent Financial for Lutherans now owns 421,379 shares of the bank's stock valued at $7,526,000 after buying an additional 59,112 shares in the last quarter. State of Wyoming acquired a new stake in shares of Fulton Financial in the second quarter valued at $30,000. Public Sector Pension Investment Board increased its stake in shares of Fulton Financial by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 620,113 shares of the bank's stock valued at $11,187,000 after buying an additional 42,621 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Fulton Financial by 215.3% in the second quarter. Tower Research Capital LLC TRC now owns 19,204 shares of the bank's stock valued at $346,000 after buying an additional 13,114 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Fulton Financial Stock Performance

Shares of NASDAQ FULT opened at $19.42 on Monday. The business has a fifty day simple moving average of $18.93 and a 200 day simple moving average of $17.94. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 11.36 and a beta of 0.85. Fulton Financial has a one year low of $14.32 and a one year high of $22.49.

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. The business had revenue of $328.45 million during the quarter, compared to analyst estimates of $320.47 million. Fulton Financial had a return on equity of 12.64% and a net margin of 17.00%.During the same period in the prior year, the company posted $0.52 earnings per share. Sell-side analysts expect that Fulton Financial will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, July 1st. Fulton Financial's dividend payout ratio is currently 42.11%.

About Fulton Financial

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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