Keefe, Bruyette & Woods reissued their hold rating on shares of Fulton Financial Corporation (NASDAQ:FULT) in a report released on Thursday, October 19th. They currently have a $17.00 price target on the bank’s stock.
A number of other equities research analysts have also recently commented on FULT. Stephens initiated coverage on shares of Fulton Financial Corporation in a research note on Thursday, July 13th. They issued an equal weight rating on the stock. Jefferies Group LLC restated a hold rating and issued a $20.00 target price on shares of Fulton Financial Corporation in a report on Friday, July 14th. Boenning Scattergood restated a hold rating on shares of Fulton Financial Corporation in a report on Wednesday, July 19th. Zacks Investment Research lowered shares of Fulton Financial Corporation from a buy rating to a hold rating in a report on Friday, July 21st. Finally, BidaskClub lowered shares of Fulton Financial Corporation from a hold rating to a sell rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $18.67.
Fulton Financial Corporation (FULT) traded down $0.60 during trading hours on Thursday, hitting $17.75. 711,706 shares of the stock were exchanged, compared to its average volume of 683,974. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.98 and a current ratio of 0.98. Fulton Financial Corporation has a fifty-two week low of $14.80 and a fifty-two week high of $19.90. The firm has a market cap of $3,110.00, a PE ratio of 17.77 and a beta of 1.16.
Fulton Financial Corporation (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, October 17th. The bank reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The business had revenue of $194.19 million for the quarter, compared to analysts’ expectations of $200.00 million. Fulton Financial Corporation had a net margin of 21.15% and a return on equity of 8.28%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. analysts forecast that Fulton Financial Corporation will post 1.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Monday, October 2nd were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Friday, September 29th. Fulton Financial Corporation’s dividend payout ratio (DPR) is presently 43.14%.
Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in Fulton Financial Corporation by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 3,861,134 shares of the bank’s stock valued at $73,363,000 after acquiring an additional 95,105 shares in the last quarter. Russell Investments Group Ltd. grew its position in Fulton Financial Corporation by 54.4% in the second quarter. Russell Investments Group Ltd. now owns 324,346 shares of the bank’s stock valued at $6,162,000 after acquiring an additional 114,256 shares in the last quarter. Jane Street Group LLC acquired a new stake in Fulton Financial Corporation in the first quarter valued at approximately $184,000. Chicago Equity Partners LLC grew its position in Fulton Financial Corporation by 24.6% in the second quarter. Chicago Equity Partners LLC now owns 500,662 shares of the bank’s stock valued at $9,513,000 after acquiring an additional 98,852 shares in the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new stake in Fulton Financial Corporation in the second quarter valued at approximately $393,000. 62.87% of the stock is owned by institutional investors.
About Fulton Financial Corporation
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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