Fulton Financial (NASDAQ:FULT) Rating Reiterated by Stephens

Stephens reissued their equal weight rating on shares of Fulton Financial (NASDAQ:FULT) in a report published on Wednesday, Benzinga reports. They currently have a $16.00 target price on the bank’s stock.

Other equities analysts also recently issued research reports about the stock. StockNews.com raised shares of Fulton Financial from a sell rating to a hold rating in a research note on Wednesday, March 13th. Keefe, Bruyette & Woods upped their target price 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. Finally, Jefferies Financial Group lowered their target price on Fulton Financial from $17.00 to $16.00 and set a hold rating for the company in a research note on Monday, April 8th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $15.30.

Fulton Financial Stock Performance

NASDAQ FULT opened at $14.99 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.95. Fulton Financial has a 1-year low of $9.64 and a 1-year high of $17.06. The firm has a market capitalization of $2.43 billion, a P/E ratio of 9.31 and a beta of 0.81. The business’s 50-day simple moving average is $15.30 and its 200-day simple moving average is $14.90.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Wednesday, January 17th. The bank reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. Fulton Financial had a net margin of 18.31% and a return on equity of 11.50%. The firm had revenue of $271.38 million for the quarter, compared to analyst estimates of $268.70 million. During the same quarter last year, the firm posted $0.48 earnings per share. Fulton Financial’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts predict that Fulton Financial will post 1.53 EPS for the current year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.68 dividend on an annualized basis and a yield of 4.54%. Fulton Financial’s payout ratio is currently 42.24%.

Institutional Trading of Fulton Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Fulton Financial during the 4th quarter valued at approximately $29,379,000. BlackRock Inc. grew its position in shares of Fulton Financial by 6.0% during the first quarter. BlackRock Inc. now owns 21,821,468 shares of the bank’s stock worth $362,670,000 after buying an additional 1,232,379 shares in the last quarter. Millennium Management LLC grew its position in shares of Fulton Financial by 108.4% during the fourth quarter. Millennium Management LLC now owns 2,285,030 shares of the bank’s stock worth $38,457,000 after buying an additional 1,188,745 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Fulton Financial by 7.2% in the third quarter. Vanguard Group Inc. now owns 17,117,537 shares of the bank’s stock worth $270,457,000 after buying an additional 1,149,047 shares during the last quarter. Finally, State Street Corp raised its holdings in Fulton Financial by 14.6% in the second quarter. State Street Corp now owns 8,853,370 shares of the bank’s stock valued at $106,947,000 after acquiring an additional 1,125,867 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.