In yesterday’s Wall Street session, Fulton Financial Corporation (NASDAQ:FULT) shares traded at $16.98, down -0.53% from the previous session.
As of this writing, 8 analysts cover Fulton Financial Corporation (NASDAQ:FULT). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $17.00, we find $17.00. Given the previous closing price of $17.07, this indicates a potential downside of -0.41 percent. FULT stock price is now 0.81% away from the 50-day moving average and 2.81% away from the 200-day moving average. The market capitalization of the company currently stands at $2.83B.
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There are 7 analysts who have given it a hold rating, whereas 1 have given it a buy rating. Brokers who have rated the stock have averaged $17.71 as their price target over the next twelve months.
With the price target of $19.50, Janney recently initiated with Neutral rating for Fulton Financial Corporation (NASDAQ: FULT). On April 21, 2022, Stephens Upgraded its previous ‘Equal-Weight’ rating to ‘Overweight’ on the stock keeping its target price maintained at $20.50, while ‘Raymond James’ rates the stock as ‘Outperform’.
In other news, Martin George K, Director bought 2,910 shares of the company’s stock on Feb 07. The stock was bought for $49,921 at an average price of $17.16. Upon completion of the transaction, the Director now directly owns 8,870 shares in the company, valued at $0.15 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 31, Director HODGES GEORGE W sold 6,799 shares of the business’s stock. A total of $112,653 was realized by selling the stock at an average price of $16.57. This leaves the insider owning 14,393 shares of the company worth $0.24 million. Insiders disposed of 140,747 shares of company stock worth roughly $2.39 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FULT stock. A new stake in Fulton Financial Corporation shares was purchased by STATE OF NEW JERSEY COMMON PENSION FUND D during the first quarter worth $2,144,000. HRT FINANCIAL LP invested $1,814,000 in shares of FULT during the first quarter. In the first quarter, AMALGAMATED FINANCIAL CORP. acquired a new stake in Fulton Financial Corporation valued at approximately $1,749,000. QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in FULT for approximately $1,643,000. DYNAMIC TECHNOLOGY LAB PRIVATE LTD purchased a new stake in FULT valued at around $1,518,000 in the second quarter. In total, there are 368 active investors with 66.90% ownership of the company’s stock.
Monday morning saw Fulton Financial Corporation (NASDAQ: FULT) opened at $17.04. During the past 12 months, Fulton Financial Corporation has had a low of $13.67 and a high of $18.85. The fifty day moving average price for FULT is $16.84 and a two-hundred day moving average price translates $16.55 for the stock.
The latest earnings results from Fulton Financial Corporation (NASDAQ: FULT) was released for Dec, 2022. According to the Banks – Regional Company, earnings per share came in at $0.47, missing analysts’ expectations of $0.5 by -0.03. This compares to $0.36 EPS in the same period last year. The net profit margin was 32.00% and return on equity was 11.90% for FULT. The company reported revenue of $267.85 million for the quarter, compared to $177.72 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 50.71 percent. For the current quarter, analysts expect FULT to generate $238.14M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/13/2023. Investors who held shares on 01/03/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $0.60 dividend and a 3.53% percent yield. There was an ex-dividend date of 12/30/2022 for this dividend. In terms of dividend payout ratio, FULT is presently at 35.00%.
Fulton Financial Corporation(FULT) Company Profile
Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers secured consumer loans, including home equity loans and lines of credit, automobile loans, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial real estate, commercial and industrial, and construction loans, as well as equipment lease financing loans. In addition, it provides letters of credit, cash management services, and traditional deposit products; and wealth management services, including investment management, trust, brokerage, insurance, and investment advisory services. Further, the company owns passive investments, as well as trust preferred securities; and sells various life insurance products. It provides its products and services through traditional financial center banking, as well as through a network of automated teller machines, telephone banking, mobile banking, and online banking. The company operated branches in Pennsylvania, Maryland, Delaware, New Jersey, and Virginia. Fulton Financial Corporation was incorporated in 1882 and is headquartered in Lancaster, Pennsylvania.
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