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

Fulton Financial Corporation (NASDAQ:FULT) has been given an average rating of “Hold” by the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $18.80.

A number of brokerages recently commented on FULT. Zacks Investment Research upgraded Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Wednesday, January 3rd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $18.00 target price on shares of Fulton Financial in a research note on Tuesday, September 26th. Barclays upped their target price on Fulton Financial from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. BidaskClub lowered Fulton Financial from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 6th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $18.00 target price on shares of Fulton Financial in a research note on Thursday, October 19th.

Fulton Financial (FULT) opened at $18.80 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $3,292.29, a price-to-earnings ratio of 18.25 and a beta of 1.17. Fulton Financial has a 12 month low of $16.45 and a 12 month high of $19.90.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, October 17th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $194.19 million during the quarter, compared to analyst estimates of $200.00 million. Fulton Financial had a return on equity of 8.28% and a net margin of 21.15%. Fulton Financial’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. research analysts predict that Fulton Financial will post 1.06 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Friday, December 29th. Fulton Financial’s dividend payout ratio (DPR) is 42.72%.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Fulton Financial by 2.1% in the second quarter. Vanguard Group Inc. now owns 15,089,443 shares of the bank’s stock valued at $286,699,000 after acquiring an additional 314,230 shares during the period. Dimensional Fund Advisors LP grew its position in Fulton Financial by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 14,443,398 shares of the bank’s stock valued at $274,426,000 after acquiring an additional 112,692 shares during the period. State Street Corp grew its position in Fulton Financial by 4.0% in the second quarter. State Street Corp now owns 9,239,829 shares of the bank’s stock valued at $175,556,000 after acquiring an additional 353,566 shares during the period. Northern Trust Corp grew its position in Fulton Financial by 10.2% in the second quarter. Northern Trust Corp now owns 4,314,514 shares of the bank’s stock valued at $81,976,000 after acquiring an additional 399,323 shares during the period. Finally, Fulton Bank N.A. grew its position in Fulton Financial by 0.3% in the fourth quarter. Fulton Bank N.A. now owns 1,862,155 shares of the bank’s stock valued at $33,333,000 after acquiring an additional 6,000 shares during the period. Hedge funds and other institutional investors own 62.73% of the company’s stock.

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Fulton Financial 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).

Analyst Recommendations for Fulton Financial (NASDAQ:FULT)

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