BidaskClub upgraded shares of Fulton Financial (NASDAQ:FULT) from a sell rating to a hold rating in a research report report published on Saturday.
Several other equities analysts have also weighed in on FULT. ValuEngine upgraded shares of Fulton Financial from a sell rating to a hold rating in a report on Friday. Zacks Investment Research upgraded shares of Fulton Financial from a sell rating to a hold rating in a report on Wednesday, July 11th. Piper Jaffray Companies upgraded shares of Fulton Financial from a neutral rating to an overweight rating and upped their price objective for the company from $18.50 to $19.00 in a report on Thursday, July 19th. Hovde Group set a $19.00 price objective on shares of Fulton Financial and gave the company a hold rating in a report on Monday, July 23rd. Finally, Barclays dropped their price objective on shares of Fulton Financial from $19.00 to $18.00 and set an underweight rating on the stock in a report on Thursday, April 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $18.43.
Fulton Financial remained flat at $$17.65 during midday trading on Friday, Marketbeat Ratings reports. 505,854 shares of the company traded hands, compared to its average volume of 859,963. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. Fulton Financial has a 1-year low of $15.05 and a 1-year high of $19.55.
Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, July 17th. The bank reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. Fulton Financial had a net margin of 19.05% and a return on equity of 8.20%. The firm had revenue of $208.12 million for the quarter, compared to analyst estimates of $208.67 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. equities analysts anticipate that Fulton Financial will post 1.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 13th. Stockholders of record on Monday, July 2nd were issued a dividend of $0.12 per share. The ex-dividend date was Friday, June 29th. This represents a $0.48 annualized dividend and a dividend yield of 2.72%. Fulton Financial’s dividend payout ratio is currently 44.86%.
Several large investors have recently bought and sold shares of the company. Citadel Advisors LLC increased its position in shares of Fulton Financial by 75.5% during the second quarter. Citadel Advisors LLC now owns 18,632 shares of the bank’s stock worth $307,000 after acquiring an additional 8,014 shares in the last quarter. Neuburgh Advisers LLC increased its position in shares of Fulton Financial by 29.9% during the second quarter. Neuburgh Advisers LLC now owns 34,544 shares of the bank’s stock worth $570,000 after acquiring an additional 7,956 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of Fulton Financial by 29.6% during the second quarter. Riverhead Capital Management LLC now owns 17,960 shares of the bank’s stock worth $296,000 after acquiring an additional 4,100 shares in the last quarter. Tyers Asset Management LLC increased its position in shares of Fulton Financial by 29.9% during the second quarter. Tyers Asset Management LLC now owns 22,352 shares of the bank’s stock worth $369,000 after acquiring an additional 5,148 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Fulton Financial by 11.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 112,818 shares of the bank’s stock worth $1,862,000 after purchasing an additional 11,229 shares in the last quarter. 62.17% of the stock is owned by institutional investors.
About Fulton Financial
Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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