Brokerages Set Fulton Financial Co. (NASDAQ:FULT) Target Price at $18.40

Fulton Financial Co. (NASDAQ:FULT) has been given a consensus rating of “Hold” by the five analysts that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $18.40.

A number of research analysts have weighed in on FULT shares. Stephens boosted their target price on shares of Fulton Financial from $15.50 to $17.50 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. DA Davidson boosted their price target on Fulton Financial from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Janney Montgomery Scott upgraded Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price objective for the company in a research report on Monday, April 29th. Keefe, Bruyette & Woods boosted their price target on shares of Fulton Financial from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Tuesday, April 30th. Finally, Jefferies Financial Group decreased their price objective on Fulton Financial from $18.50 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new position in Fulton Financial in the 4th quarter worth approximately $29,000. Disciplined Equity Management Inc. bought a new position in Fulton Financial in the 4th quarter worth approximately $32,000. OLD Point Trust & Financial Services N A bought a new position in Fulton Financial in the 4th quarter worth approximately $38,000. YHB Investment Advisors Inc. bought a new position in Fulton Financial in the 1st quarter worth approximately $36,000. Finally, Family Firm Inc. bought a new position in Fulton Financial in the 2nd quarter worth approximately $46,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Up 2.2 %

Fulton Financial stock opened at $17.73 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.35. Fulton Financial has a 1-year low of $11.63 and a 1-year high of $20.33. The firm’s fifty day simple moving average is $17.47 and its 200-day simple moving average is $16.41. The company has a market capitalization of $3.22 billion, a P/E ratio of 11.01 and a beta of 0.75.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, July 16th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.22. The business had revenue of $334.71 million during the quarter, compared to analyst estimates of $296.38 million. Fulton Financial had a net margin of 17.93% and a return on equity of 11.09%. Fulton Financial’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. Sell-side analysts forecast that Fulton Financial will post 1.7 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Monday, July 1st. Fulton Financial’s payout ratio is currently 42.24%.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.