Fulton Financial Corporation (NASDAQ:FULT – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $23.67 and last traded at $23.66, with a volume of 2512763 shares trading hands. The stock had previously closed at $23.05.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on FULT shares. Piper Sandler set a $23.00 target price on shares of Fulton Financial and gave the company a “neutral” rating in a research report on Friday, June 12th. Wall Street Zen downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Raymond James Financial reiterated an “outperform” rating and issued a $24.00 price target on shares of Fulton Financial in a research note on Monday, April 27th. Weiss Ratings raised Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Finally, DA Davidson assumed coverage on Fulton Financial in a research report on Wednesday, February 25th. They set a “neutral” rating and a $24.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Fulton Financial currently has an average rating of “Hold” and a consensus price target of $23.00.
Check Out Our Latest Report on Fulton Financial
Fulton Financial Stock Performance
Fulton Financial (NASDAQ:FULT – Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The company had revenue of $331.86 million for the quarter, compared to analyst estimates of $359.36 million. Fulton Financial had a net margin of 20.85% and a return on equity of 12.69%. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, analysts expect that Fulton Financial Corporation will post 2.18 EPS for the current year.
Fulton Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.76 annualized dividend and a yield of 3.2%. Fulton Financial’s payout ratio is presently 36.19%.
Insider Activity at Fulton Financial
In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $21.42, for a total value of $107,100.00. Following the sale, the director owned 80,477 shares in the company, valued at approximately $1,723,817.34. The trade was a 5.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.01% of the company’s stock.
Institutional Trading of Fulton Financial
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FULT. Keybank National Association OH lifted its position in shares of Fulton Financial by 1.5% in the 1st quarter. Keybank National Association OH now owns 32,887 shares of the bank’s stock worth $669,000 after purchasing an additional 485 shares during the period. Cetera Investment Advisers increased its position in shares of Fulton Financial by 2.6% during the first quarter. Cetera Investment Advisers now owns 21,829 shares of the bank’s stock worth $444,000 after buying an additional 557 shares during the period. State of Wyoming increased its position in shares of Fulton Financial by 13.4% during the first quarter. State of Wyoming now owns 4,829 shares of the bank’s stock worth $98,000 after buying an additional 570 shares during the period. Nisa Investment Advisors LLC raised its stake in Fulton Financial by 2.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 23,924 shares of the bank’s stock worth $467,000 after buying an additional 580 shares during the last quarter. Finally, Root Financial Partners LLC raised its stake in Fulton Financial by 89.9% during the first quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock worth $26,000 after buying an additional 607 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.
About Fulton Financial
Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.
Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.
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