Stocks of Fulton Financial Corporation (NASDAQ:FULT) traded higher last session on Wall Street, down -1.05% to $14.16.
According to the data, Fulton Financial Corporation (NASDAQ:FULT) has 8 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $12.00, we find $14.00. Given the previous closing price of $14.31, this indicates a potential downside of -2.17 percent. FULT stock price is now 15.20% away from the 50-day moving average and -5.70% away from the 200-day moving average. The market capitalization of the company currently stands at $2.37B.
A total of 7 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $14.00 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).
In other news, Myers Curtis J, Chairman & CEO bought 15,000 shares of the company’s stock on May 12. The stock was bought for $147,156 at an average price of $9.81. Upon completion of the transaction, the Chairman & CEO now directly owns 157,044 shares in the company, valued at $2.22 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 11, Sr. EVP & CFO MCCOLLOM MARK R bought 10,000 shares of the business’s stock. A total of $97,400 was incurred on buying the stock at an average price of $9.74. This leaves the insider owning 71,503 shares of the company worth $1.01 million. Insiders disposed of 241,781 shares of company stock worth roughly $3.42 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 FISHER ASSET MANAGEMENT, LLC during the first quarter worth $19,748,000. TUDOR INVESTMENT CORP ET AL invested $5,399,000 in shares of FULT during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in Fulton Financial Corporation valued at approximately $1,269,000. DARK FOREST CAPITAL MANAGEMENT LP acquired a new stake in FULT for approximately $993,000. RETIREFUL, LLC purchased a new stake in FULT valued at around $966,000 in the second quarter. In total, there are 350 active investors with 66.90% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $14.39 for Fulton Financial Corporation (NASDAQ: FULT). During the past 12 months, Fulton Financial Corporation has had a low of $9.64 and a high of $18.85. The fifty day moving average price for FULT is $12.36 and a two-hundred day moving average price translates $15.02 for the stock.
The latest earnings results from Fulton Financial Corporation (NASDAQ: FULT) was released for Jun, 2023. According to the Banks – Regional Company, earnings per share came in at $0.46, beating analysts’ expectations of $0.42 by 0.04. This compares to $0.38 EPS in the same period last year. The net profit margin was 25.00% and return on equity was 11.80% for FULT. The company reported revenue of $289.82 million for the quarter, compared to $173.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 67.53 percent. For the current quarter, analysts expect FULT to generate $210.08M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/14/2023. Investors who held shares on 07/03/2023 were paid a $0.16 dividend. On an annualized basis, this represents a $0.64 dividend and a 4.52% percent yield. There was an ex-dividend date of 06/30/2023 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 in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. 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. Fulton Financial Corporation was founded in 1882 and is headquartered in Lancaster, Pennsylvania.
