Fulton Financial Co. (NASDAQ:FULT) Receives Consensus Rating of "Hold" from Analysts

Fulton Financial Co. (NASDAQ:FULT - Get Free Report) has earned a consensus recommendation of "Hold" from the five analysts that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $18.83.

A number of brokerages recently issued reports on FULT. StockNews.com lowered shares of Fulton Financial from a "hold" rating to a "sell" rating in a research report on Monday, November 11th. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a report on Thursday, October 17th.

Fulton Financial Price Performance

Shares of FULT stock traded down $0.34 during midday trading on Tuesday, reaching $20.71. 769,532 shares of the company were exchanged, compared to its average volume of 1,479,635. Fulton Financial has a 12 month low of $13.84 and a 12 month high of $21.65. The company has a market cap of $3.77 billion, a P/E ratio of 13.13 and a beta of 0.73. The company's 50 day moving average price is $18.46 and its two-hundred day moving average price is $17.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. The company had revenue of $487.33 million for the quarter, compared to analysts' expectations of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same quarter in the previous year, the company posted $0.43 EPS. On average, sell-side analysts expect that Fulton Financial will post 1.74 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 3.28%. Fulton Financial's dividend payout ratio is currently 43.04%.

Institutional Investors Weigh In On Fulton Financial

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Fulton Financial by 4.4% during the third quarter. State Street Corp now owns 10,544,159 shares of the bank's stock worth $191,166,000 after buying an additional 444,219 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Fulton Financial by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank's stock valued at $79,264,000 after purchasing an additional 85,574 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Fulton Financial by 511.1% during the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank's stock valued at $55,287,000 after purchasing an additional 2,723,170 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Fulton Financial by 18.6% in the second quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank's stock worth $51,323,000 after acquiring an additional 474,099 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Fulton Financial by 28.8% in the second quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank's stock worth $43,164,000 after acquiring an additional 567,771 shares during the period. Institutional investors and hedge funds own 72.02% of the company's stock.

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.