Fulton Financial (FULT) Rating Reiterated by Jefferies Group

Jefferies Group reissued their hold rating on shares of Fulton Financial (NASDAQ:FULT) in a research note published on Thursday. The firm currently has a $19.00 price target on the bank’s stock.

A number of other analysts have also recently commented on FULT. Zacks Investment Research upgraded Fulton Financial from a sell rating to a hold rating in a research report on Thursday, April 5th. Barclays cut their price target on Fulton Financial from $19.00 to $18.00 and set an underweight rating for the company in a report on Thursday. BidaskClub lowered Fulton Financial from a buy rating to a hold rating in a report on Wednesday, April 4th. Finally, DA Davidson initiated coverage on Fulton Financial in a report on Monday, March 26th. They set a neutral rating and a $18.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $18.33.

Fulton Financial stock opened at $17.15 on Thursday. The firm has a market cap of $3,007.12, a P/E ratio of 16.03, a PEG ratio of 1.72 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.97 and a quick ratio of 0.98. Fulton Financial has a one year low of $16.45 and a one year high of $19.90.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, April 17th. The bank reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. The company had revenue of $197.19 million during the quarter, compared to analysts’ expectations of $199.94 million. Fulton Financial had a return on equity of 8.71% and a net margin of 20.66%. Fulton Financial’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. research analysts anticipate that Fulton Financial will post 1.25 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Monday, April 2nd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.80%. The ex-dividend date was Thursday, March 29th. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.11. Fulton Financial’s payout ratio is currently 44.86%.

A number of large investors have recently added to or reduced their stakes in FULT. Zeke Capital Advisors LLC bought a new stake in Fulton Financial during the fourth quarter valued at about $191,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Fulton Financial by 46.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,306 shares of the bank’s stock valued at $202,000 after purchasing an additional 3,585 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Fulton Financial during the fourth quarter valued at about $208,000. Tower Bridge Advisors bought a new stake in Fulton Financial during the fourth quarter valued at about $219,000. Finally, JOYN Advisors Inc. bought a new stake in Fulton Financial during the fourth quarter valued at about $245,000. 63.35% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Fulton Financial (NASDAQ:FULT)

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