Analysts Set Fulton Financial Co. (NASDAQ:FULT) PT at $20.64

Shares of Fulton Financial Co. (NASDAQ:FULT) have been assigned an average rating of “Hold” from the six research firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $20.64.

A number of research firms have commented on FULT. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods raised their target price on shares of Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, January 23rd. Hovde Group raised their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research report on Monday, January 27th. DA Davidson raised their target price on shares of Fulton Financial from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, Stephens raised shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th.

Insider Activity

In other news, CEO Curtis J. Myers sold 24,192 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the sale, the chief executive officer now directly owns 155,946 shares in the company, valued at approximately $3,299,817.36. This trade represents a 13.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares of the company’s stock, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.

Institutional Trading of Fulton Financial

Institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its stake in Fulton Financial by 193.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock worth $25,000 after purchasing an additional 853 shares in the last quarter. Quarry LP acquired a new stake in Fulton Financial in the 3rd quarter worth approximately $33,000. Nomura Asset Management Co. Ltd. boosted its stake in Fulton Financial by 57.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock worth $42,000 after purchasing an additional 800 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Fulton Financial during the 4th quarter valued at approximately $44,000. Finally, Covestor Ltd lifted its stake in Fulton Financial by 196.9% during the 4th quarter. Covestor Ltd now owns 3,976 shares of the bank’s stock valued at $76,000 after acquiring an additional 2,637 shares during the period. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Fulton Financial Trading Down 0.5 %

FULT stock opened at $18.82 on Thursday. The company has a market capitalization of $3.43 billion, a PE ratio of 11.99 and a beta of 0.79. Fulton Financial has a 12 month low of $13.87 and a 12 month high of $22.49. The firm’s 50-day moving average is $20.07 and its 200 day moving average is $19.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, topping the consensus estimate of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same period in the prior year, the firm posted $0.42 EPS. On average, research analysts anticipate that Fulton Financial will post 1.91 EPS for the current year.

Fulton Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.18 dividend. This is a boost from Fulton Financial’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Tuesday, December 31st. Fulton Financial’s dividend payout ratio (DPR) is currently 45.86%.

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.