Keefe, Bruyette & Woods reiterated their hold rating on shares of Fulton Financial Corporation (NASDAQ:FULT) in a research note issued to investors on Tuesday. Keefe, Bruyette & Woods currently has a $17.50 target price on the bank’s stock.
FULT has been the topic of a number of other research reports. Stephens started coverage on shares of Fulton Financial Corporation in a research note on Thursday, July 13th. They set an equal weight rating on the stock. Jefferies Group LLC reissued a hold rating and set a $20.00 target price on shares of Fulton Financial Corporation in a research report on Friday, July 14th. ValuEngine upgraded shares of Fulton Financial Corporation from a hold rating to a buy rating in a research note on Thursday, August 3rd. Boenning Scattergood restated a hold rating on shares of Fulton Financial Corporation in a research note on Wednesday, July 19th. Finally, Zacks Investment Research raised shares of Fulton Financial Corporation from a hold rating to a buy rating and set a $20.00 price target for the company in a report on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Fulton Financial Corporation presently has an average rating of Hold and an average target price of $18.25.
Shares of Fulton Financial Corporation (FULT) traded down 0.396% on Tuesday, reaching $18.875. 106,616 shares of the company were exchanged. The stock has a market capitalization of $3.30 billion, a PE ratio of 19.066 and a beta of 1.17. The company has a 50-day moving average price of $17.67 and a 200 day moving average price of $18.06. Fulton Financial Corporation has a 1-year low of $14.04 and a 1-year high of $19.90.
Fulton Financial Corporation (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, July 18th. The bank reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $193.93 million for the quarter, compared to analyst estimates of $194.02 million. Fulton Financial Corporation had a return on equity of 8.02% and a net margin of 20.86%. During the same period in the previous year, the company posted $0.23 EPS. On average, analysts forecast that Fulton Financial Corporation will post $1.06 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, September 29th. This represents a $0.44 annualized dividend and a yield of 2.32%. Fulton Financial Corporation’s dividend payout ratio is presently 44.44%.
In other news, insider Craig A. Roda sold 19,309 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $18.42, for a total transaction of $355,671.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Deporter sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $18.00, for a total transaction of $27,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,348 shares of company stock valued at $484,312. Company insiders own 0.68% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wagner Bowman Management Corp boosted its stake in Fulton Financial Corporation by 0.6% during the 2nd quarter. Wagner Bowman Management Corp now owns 12,178 shares of the bank’s stock valued at $231,000 after acquiring an additional 74 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Fulton Financial Corporation by 0.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 15,522 shares of the bank’s stock worth $295,000 after acquiring an additional 77 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Fulton Financial Corporation by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,513 shares of the bank’s stock worth $485,000 after acquiring an additional 82 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Fulton Financial Corporation by 1.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,976 shares of the bank’s stock worth $266,000 after acquiring an additional 192 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in Fulton Financial Corporation by 0.8% during the 2nd quarter. Amalgamated Bank now owns 24,388 shares of the bank’s stock worth $463,000 after acquiring an additional 195 shares in the last quarter. 62.99% of the stock is currently owned by hedge funds and other institutional investors.
Fulton Financial Corporation Company Profile
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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