Analysts Set Fulton Financial Corporation (NASDAQ:FULT) Target Price at $23.00

Shares of Fulton Financial Corporation (NASDAQ:FULT) have been given an average rating of “Hold” by the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $23.00.

A number of equities research analysts have commented on the company. Raymond James Financial restated an “outperform” rating and set a $24.00 price objective on shares of Fulton Financial in a research report on Monday, April 27th. Weiss Ratings upgraded Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Piper Sandler set a $23.00 price objective on Fulton Financial and gave the stock a “neutral” rating in a research report on Friday, June 12th. DA Davidson assumed coverage on Fulton Financial in a research report on Wednesday, February 25th. They set a “neutral” rating and a $24.00 price objective for the company. Finally, Wall Street Zen lowered Fulton Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 3rd.

Fulton Financial Trading Up 2.6%

Shares of FULT opened at $23.66 on Wednesday. Fulton Financial has a 1-year low of $16.60 and a 1-year high of $23.67. The stock has a market capitalization of $4.52 billion, a P/E ratio of 11.27 and a beta of 0.80. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $21.85 and its 200 day moving average price is $20.95.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.The firm had revenue of $331.86 million during the quarter, compared to analyst estimates of $359.36 million. During the same period last year, the company posted $0.52 EPS. Analysts expect that Fulton Financial will post 2.18 earnings per share for the current year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, July 1st. Fulton Financial’s payout ratio is currently 36.19%.

Insider Activity

In other news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $21.42, for a total transaction of $107,100.00. Following the completion of the sale, the director directly owned 80,477 shares in the company, valued at $1,723,817.34. The trade was a 5.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fulton Financial

Institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new stake in shares of Fulton Financial during the 4th quarter valued at about $25,000. Root Financial Partners LLC lifted its holdings in shares of Fulton Financial by 89.9% during the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after buying an additional 607 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Fulton Financial during the 4th quarter valued at about $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Fulton Financial during the 4th quarter valued at about $28,000. Finally, Torren Management LLC acquired a new stake in shares of Fulton Financial during the 4th quarter valued at about $28,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

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.