Fulton Financial Corporation (NASDAQ:FULT) Given Average Rating of “Hold” by Brokerages

Shares of Fulton Financial Corporation (NASDAQ:FULT) have been given an average rating of “Hold” by the six ratings firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $24.75.

A number of brokerages have recently issued reports on FULT. Piper Sandler restated a “neutral” rating and set a $27.00 target price (up from $23.00) on shares of Fulton Financial in a research report on Monday. Raymond James Financial increased their price target on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of Fulton Financial in a research note on Wednesday, July 29th. Finally, DA Davidson upped their target price on shares of Fulton Financial from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th.

Fulton Financial Trading Down 0.6%

FULT opened at $24.72 on Thursday. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 11.83 and a beta of 0.79. Fulton Financial has a 52 week low of $16.60 and a 52 week high of $25.23. The business’s 50 day moving average is $23.64 and its two-hundred day moving average is $21.95. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.1%. The ex-dividend date was Wednesday, July 1st. Fulton Financial’s payout ratio is 36.36%.

Insider Buying and Selling

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $24.14, for a total transaction of $120,700.00. Following the completion of the sale, the director directly owned 75,477 shares of the company’s stock, valued at $1,822,014.78. This represents a 6.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FULT. Hennion & Walsh Asset Management Inc. raised its stake in shares of Fulton Financial by 24.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 18,266 shares of the bank’s stock worth $442,000 after purchasing an additional 3,564 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Fulton Financial in the 2nd quarter valued at $208,000. Empowered Funds LLC purchased a new position in Fulton Financial in the 1st quarter valued at $266,000. Alpine Woods Capital Investors LLC purchased a new position in Fulton Financial in the 1st quarter valued at $202,000. Finally, Axiom Investment Management LLC acquired a new position in Fulton Financial in the 1st quarter valued at $28,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

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.