Fulton Financial Corporation (FULT) Receives $18.00 Average Price Target from Brokerages

Fulton Financial Corporation (NASDAQ:FULT) has received an average recommendation of “Hold” from the seven brokerages that are covering the stock. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $18.00.

A number of equities research analysts have issued reports on FULT shares. Zacks Investment Research cut shares of Fulton Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, December 26th. Barclays PLC cut shares of Fulton Financial Corporation from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $13.00 to $17.00 in a report on Tuesday, December 6th. Hovde Group cut shares of Fulton Financial Corporation from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $16.50 to $19.00 in a report on Friday, November 18th. Finally, FBR & Co boosted their target price on shares of Fulton Financial Corporation from $14.00 to $15.00 and gave the company a “mkt perform” rating in a report on Thursday, October 20th.

Shares of Fulton Financial Corporation (NASDAQ:FULT) opened at 18.45 on Wednesday. The firm has a market cap of $3.21 billion, a P/E ratio of 19.84 and a beta of 1.10. Fulton Financial Corporation has a 12-month low of $12.28 and a 12-month high of $19.45. The company’s 50 day moving average price is $18.54 and its 200 day moving average price is $16.19.

Fulton Financial Corporation (NASDAQ:FULT) last issued its earnings results on Tuesday, January 17th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Fulton Financial Corporation had a net margin of 20.37% and a return on equity of 7.67%. The business had revenue of $183.50 million for the quarter, compared to analysts’ expectations of $138.01 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts forecast that Fulton Financial Corporation will post $1.00 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, January 3rd were given a $0.10 dividend. The ex-dividend date was Thursday, December 29th. This represents a $0.40 annualized dividend and a yield of 2.17%. Fulton Financial Corporation’s dividend payout ratio (DPR) is presently 43.01%.

TRADEMARK VIOLATION WARNING: “Fulton Financial Corporation (FULT) Receives $18.00 Average Price Target from Brokerages” was published by sleekmoney and is the sole property of of sleekmoney. If you are reading this news story on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this news story can be viewed at http://sleekmoney.com/fulton-financial-corporation-fult-receives-18-00-average-price-target-from-brokerages/1655426.html.

In related news, EVP Angela M. Sargent sold 15,192 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $17.50, for a total value of $265,860.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Meg R. Mueller sold 13,828 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $17.66, for a total transaction of $244,202.48. The disclosure for this sale can be found here. Insiders sold 93,888 shares of company stock valued at $1,676,416 over the last quarter. 0.75% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Inc. raised its position in shares of Fulton Financial Corporation by 17.9% in the third quarter. Advisor Group Inc. now owns 6,927 shares of the company’s stock valued at $100,000 after buying an additional 1,053 shares during the period. Riverhead Capital Management LLC raised its position in shares of Fulton Financial Corporation by 271.0% in the third quarter. Riverhead Capital Management LLC now owns 7,100 shares of the company’s stock valued at $103,000 after buying an additional 5,186 shares during the period. Victory Capital Management Inc. raised its position in shares of Fulton Financial Corporation by 10.6% in the third quarter. Victory Capital Management Inc. now owns 8,838 shares of the company’s stock valued at $128,000 after buying an additional 849 shares during the period. Sei Investments Co. raised its position in shares of Fulton Financial Corporation by 9.7% in the third quarter. Sei Investments Co. now owns 10,813 shares of the company’s stock valued at $157,000 after buying an additional 959 shares during the period. Finally, LS Investment Advisors LLC raised its position in shares of Fulton Financial Corporation by 5.7% in the third quarter. LS Investment Advisors LLC now owns 11,053 shares of the company’s stock valued at $160,000 after buying an additional 595 shares during the period. Institutional investors own 58.64% of the company’s stock.

About Fulton Financial Corporation

Fulton Financial Corporation is a multi-bank financial holding company. The Company provides a range of banking and financial services to businesses and consumers through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A.

5 Day Chart for NASDAQ:FULT

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/fulton-financial-corporation-fult-receives-18-00-average-price-target-from-brokerages/1655426.html

Receive News & Ratings for Fulton Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fulton Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *