Fulton Financial (NASDAQ:FULT) Given New $25.00 Price Target at DA Davidson

Fulton Financial (NASDAQ:FULT) had its price objective boosted by DA Davidson from $24.00 to $25.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

FULT has been the topic of a number of other research reports. Wall Street Zen raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Raymond James Financial upped their price objective on shares of Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Piper Sandler set a $23.00 price objective on Fulton Financial and gave the stock a “neutral” rating in a report on Friday, June 12th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.75.

Fulton Financial Stock Performance

FULT opened at $24.57 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial has a one year low of $16.60 and a one year high of $25.23. The company has a market cap of $4.70 billion, a P/E ratio of 11.76 and a beta of 0.79. The business’s 50-day simple moving average is $23.12 and its 200-day simple moving average is $21.68.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 36.36%.

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $24.14, for a total value of $120,700.00. Following the completion of the sale, the director directly owned 75,477 shares of the company’s stock, valued at approximately $1,822,014.78. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.01% of the company’s stock.

Institutional Trading of Fulton Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its position in Fulton Financial by 24.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 18,266 shares of the bank’s stock worth $442,000 after acquiring an additional 3,564 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Fulton Financial in the second quarter valued at approximately $208,000. Empowered Funds LLC acquired a new position in shares of Fulton Financial in the first quarter valued at approximately $266,000. Alpine Woods Capital Investors LLC purchased a new stake in shares of Fulton Financial during the first quarter worth approximately $202,000. Finally, Axiom Investment Management LLC purchased a new stake in shares of Fulton Financial during the first quarter worth approximately $28,000. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.