Brokerages Set Fulton Financial Co. (NASDAQ:FULT) PT at $19.50

Fulton Financial Co. (NASDAQ:FULT - Get Free Report) has earned a consensus rating of "Hold" from the five research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $19.50.

A number of research analysts have issued reports on FULT shares. Piper Sandler set a $21.00 price objective on Fulton Financial in a research note on Thursday, October 17th. Keefe, Bruyette & Woods upped their price target on shares of Fulton Financial from $20.00 to $23.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Stephens raised shares of Fulton Financial from an "equal weight" rating to an "overweight" rating in a research report on Monday, December 9th. Finally, StockNews.com cut shares of Fulton Financial from a "hold" rating to a "sell" rating in a report on Monday, November 11th.

Insiders Place Their Bets

In other news, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the sale, the chief executive officer now directly owns 155,946 shares in the company, valued at $3,299,817.36. The trade was a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FULT. Millennium Management LLC raised its stake in Fulton Financial by 511.1% during the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank's stock valued at $55,287,000 after buying an additional 2,723,170 shares during the last quarter. Emerald Advisers LLC increased its position in Fulton Financial by 213.6% during the third quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank's stock valued at $23,706,000 after acquiring an additional 890,630 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in Fulton Financial by 272.2% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank's stock valued at $15,622,000 after acquiring an additional 630,152 shares during the period. The Manufacturers Life Insurance Company boosted its position in Fulton Financial by 710.0% in the second quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank's stock worth $11,880,000 after purchasing an additional 613,272 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Fulton Financial by 18.6% during the 2nd quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank's stock valued at $51,323,000 after purchasing an additional 474,099 shares during the period. Institutional investors own 72.02% of the company's stock.

Fulton Financial Stock Up 0.3 %

Shares of Fulton Financial stock traded up $0.06 during trading on Wednesday, hitting $19.34. The company's stock had a trading volume of 1,499,496 shares, compared to its average volume of 1,252,319. Fulton Financial has a 52 week low of $13.87 and a 52 week high of $22.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The company has a fifty day simple moving average of $20.39 and a two-hundred day simple moving average of $18.84. The company has a market capitalization of $3.52 billion, a PE ratio of 12.24 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The business had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. During the same quarter last year, the firm earned $0.43 earnings per share. Equities research analysts predict that Fulton Financial will post 1.73 earnings per share for the current year.

Fulton Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.72%. This is an increase from Fulton Financial's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, December 31st. Fulton Financial's dividend payout ratio (DPR) is presently 45.57%.

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.