Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Fulton Financial Corporation (NASDAQ:FULT) in a research report sent to investors on Thursday, October 19th. The firm currently has a $17.00 target price on the bank’s stock.
FULT has been the topic of several other reports. Boenning Scattergood reiterated a hold rating on shares of Fulton Financial Corporation in a report on Wednesday, July 19th. Zacks Investment Research upgraded Fulton Financial Corporation from a hold rating to a buy rating and set a $20.00 target price on the stock in a report on Tuesday, July 25th. ValuEngine upgraded Fulton Financial Corporation from a hold rating to a buy rating in a report on Thursday, August 3rd. BidaskClub lowered Fulton Financial Corporation from a hold rating to a sell rating in a report on Thursday, July 27th. Finally, Stephens initiated coverage on Fulton Financial Corporation in a research note on Thursday, July 13th. They issued an equal weight rating on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $18.67.
Fulton Financial Corporation (FULT) opened at 18.70 on Thursday. The firm has a 50-day moving average of $18.32 and a 200 day moving average of $18.20. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 18.33 and a beta of 1.17. Fulton Financial Corporation has a 52 week low of $14.45 and a 52 week high of $19.90.
Fulton Financial Corporation (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, October 17th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Fulton Financial Corporation had a return on equity of 8.28% and a net margin of 21.15%. The business had revenue of $194.19 million for the quarter, compared to analyst estimates of $200.00 million. During the same period last year, the company earned $0.24 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. On average, analysts anticipate that Fulton Financial Corporation will post $1.06 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Monday, October 2nd were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Friday, September 29th. Fulton Financial Corporation’s dividend payout ratio (DPR) is presently 42.72%.
In other Fulton Financial Corporation news, Director R Scott Smith, Jr. sold 5,539 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $18.35, for a total transaction of $101,640.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.68% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Fulton Financial Corporation by 7.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,721 shares of the bank’s stock worth $147,000 after acquiring an additional 519 shares during the period. Advisor Group Inc. boosted its holdings in shares of Fulton Financial Corporation by 5.3% during the second quarter. Advisor Group Inc. now owns 8,336 shares of the bank’s stock worth $158,000 after acquiring an additional 417 shares during the period. Riverhead Capital Management LLC boosted its holdings in shares of Fulton Financial Corporation by 56.0% during the second quarter. Riverhead Capital Management LLC now owns 9,985 shares of the bank’s stock worth $190,000 after acquiring an additional 3,585 shares during the period. Jane Street Group LLC bought a new stake in shares of Fulton Financial Corporation during the first quarter worth approximately $184,000. Finally, Sei Investments Co. boosted its holdings in shares of Fulton Financial Corporation by 3.8% during the second quarter. Sei Investments Co. now owns 10,378 shares of the bank’s stock worth $198,000 after acquiring an additional 377 shares during the period. 62.98% of the stock is currently owned by hedge funds and other institutional investors.
About Fulton Financial Corporation
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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