Fulton Financial (NASDAQ:FULT) Price Target Lowered to $15.50 at Stephens

Fulton Financial (NASDAQ:FULT) had its price target trimmed by Stephens from $16.00 to $15.50 in a report issued on Thursday, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

FULT has been the subject of several other reports. Keefe, Bruyette & Woods upped their price objective on Fulton Financial from $16.00 to $17.00 and gave the stock a market perform rating in a research report on Thursday, January 18th. Jefferies Financial Group lowered their price objective on Fulton Financial from $17.00 to $16.00 and set a hold rating for the company in a research report on Monday, April 8th. Finally, StockNews.com raised Fulton Financial from a sell rating to a hold rating in a research report on Wednesday, March 13th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $15.30.

Fulton Financial Trading Down 0.4 %

NASDAQ:FULT opened at $14.43 on Thursday. The stock has a 50-day simple moving average of $15.31 and a 200-day simple moving average of $14.88. The stock has a market cap of $2.34 billion, a P/E ratio of 8.96 and a beta of 0.81. Fulton Financial has a 1 year low of $9.64 and a 1 year high of $17.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Wednesday, January 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $271.38 million during the quarter, compared to analysts’ expectations of $268.70 million. Fulton Financial had a return on equity of 11.50% and a net margin of 18.31%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. As a group, analysts anticipate that Fulton Financial will post 1.53 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial’s dividend payout ratio is presently 42.24%.

Institutional Trading of Fulton Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd raised its stake in shares of Fulton Financial by 11.7% during the 1st quarter. Point72 Hong Kong Ltd now owns 7,082 shares of the bank’s stock worth $118,000 after buying an additional 742 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Fulton Financial by 82.8% during the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after buying an additional 781 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Fulton Financial by 0.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 192,540 shares of the bank’s stock worth $3,240,000 after buying an additional 796 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Fulton Financial by 1.3% during the 4th quarter. Wells Fargo & Company MN now owns 64,949 shares of the bank’s stock worth $1,093,000 after buying an additional 814 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Fulton Financial by 7.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 11,611 shares of the bank’s stock worth $183,000 after buying an additional 852 shares in the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

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.