Fulton Financial Corp (FULT) Given Average Recommendation of “Hold” by Analysts
Shares of Fulton Financial Corp (NASDAQ:FULT) have been assigned an average rating of “Hold” from the nine research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.83.
Several research firms have recently commented on FULT. BidaskClub upgraded Fulton Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Boenning Scattergood restated a “hold” rating on shares of Fulton Financial in a report on Wednesday, October 17th. Zacks Investment Research upgraded Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Friday, October 5th. Barclays upgraded Fulton Financial from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $19.00 in a report on Wednesday, October 3rd. Finally, ValuEngine downgraded Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, September 24th.
Institutional investors have recently made changes to their positions in the stock. SRS Capital Advisors Inc. bought a new stake in Fulton Financial during the third quarter worth $105,000. Raymond James & Associates purchased a new position in Fulton Financial in the second quarter worth $180,000. Martingale Asset Management L P purchased a new position in Fulton Financial in the third quarter worth $201,000. Nomura Holdings Inc. purchased a new position in Fulton Financial in the second quarter worth $219,000. Finally, Tower Bridge Advisors boosted its position in Fulton Financial by 29.2% in the third quarter. Tower Bridge Advisors now owns 15,785 shares of the bank’s stock worth $263,000 after purchasing an additional 3,563 shares during the last quarter. Institutional investors and hedge funds own 62.81% of the company’s stock.
Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, October 16th. The bank reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.04. The business had revenue of $214.23 million during the quarter, compared to the consensus estimate of $209.72 million. Fulton Financial had a return on equity of 8.89% and a net margin of 20.45%. During the same period in the previous year, the company posted $0.28 earnings per share. On average, research analysts anticipate that Fulton Financial will post 1.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 28th. This represents a $0.48 annualized dividend and a yield of 2.89%. Fulton Financial’s dividend payout ratio (DPR) is currently 44.86%.
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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