Fulton Financial Corp (NASDAQ:FULT) has been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $18.90.
A number of research analysts have recently issued reports on FULT shares. BidaskClub upgraded shares of Fulton Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, March 29th. Piper Jaffray Companies cut shares of Fulton Financial from an “overweight” rating to a “neutral” rating and cut their target price for the company from $19.00 to $17.50 in a research note on Thursday, January 17th. Barclays reiterated a “buy” rating and issued a $21.00 target price on shares of Fulton Financial in a research note on Friday, January 11th. Zacks Investment Research cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Finally, ValuEngine cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th.
FULT traded down $0.32 during midday trading on Wednesday, reaching $16.23. 49,059 shares of the company’s stock were exchanged, compared to its average volume of 1,129,810. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 1.45 and a beta of 0.98. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. Fulton Financial has a one year low of $14.38 and a one year high of $18.45.
Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Tuesday, January 15th. The bank reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The business had revenue of $215.65 million for the quarter, compared to the consensus estimate of $215.11 million. Fulton Financial had a return on equity of 9.25% and a net margin of 22.66%. During the same quarter in the prior year, the business earned $0.28 EPS. Equities research analysts expect that Fulton Financial will post 1.4 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be issued a $0.13 dividend. The ex-dividend date is Friday, March 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.20%. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.12. Fulton Financial’s dividend payout ratio (DPR) is currently 44.07%.
Institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank acquired a new stake in shares of Fulton Financial in the fourth quarter valued at approximately $39,000. ETF Managers Group LLC boosted its position in shares of Fulton Financial by 18.1% during the fourth quarter. ETF Managers Group LLC now owns 7,494 shares of the bank’s stock worth $116,000 after purchasing an additional 1,148 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Fulton Financial by 223.8% during the third quarter. Tower Research Capital LLC TRC now owns 7,502 shares of the bank’s stock worth $125,000 after purchasing an additional 5,185 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Fulton Financial during the fourth quarter worth $121,000. Finally, Jane Street Group LLC bought a new position in shares of Fulton Financial during the third quarter worth $168,000. 66.98% of the stock is owned by institutional investors and hedge funds.
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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