Fulton Financial Co. (NASDAQ:FULT – Free Report) – Analysts at DA Davidson dropped their FY2025 EPS estimates for shares of Fulton Financial in a research report issued on Thursday, December 19th. DA Davidson analyst M. Navas now forecasts that the bank will earn $1.72 per share for the year, down from their prior estimate of $1.74. The consensus estimate for Fulton Financial’s current full-year earnings is $1.74 per share.
Several other research firms have also recently weighed in on FULT. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Piper Sandler set a $21.00 target price on Fulton Financial in a research report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their target price on shares of Fulton Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.50.
Fulton Financial Stock Performance
Shares of FULT stock opened at $19.40 on Friday. The company has a market capitalization of $3.53 billion, a P/E ratio of 12.28 and a beta of 0.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a 50 day moving average price of $19.97 and a two-hundred day moving average price of $18.50. Fulton Financial has a fifty-two week low of $13.87 and a fifty-two week high of $22.49.
Fulton Financial (NASDAQ:FULT – Get Free Report) last issued its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. The business had revenue of $487.33 million during the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same quarter in the prior year, the firm earned $0.43 earnings per share.
Fulton Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.17. Fulton Financial’s dividend payout ratio is currently 45.57%.
Insiders Place Their Bets
In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction of $511,902.72. Following the completion of the sale, the chief executive officer now directly owns 155,946 shares in the company, valued at approximately $3,299,817.36. The trade was a 13.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.07% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB grew its holdings in shares of Fulton Financial by 52.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 31,500 shares of the bank’s stock worth $571,000 after buying an additional 10,773 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Fulton Financial by 11.6% in the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after purchasing an additional 676 shares during the period. Geode Capital Management LLC increased its position in Fulton Financial by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank’s stock worth $79,264,000 after purchasing an additional 85,574 shares during the last quarter. Barclays PLC increased its position in Fulton Financial by 79.4% during the third quarter. Barclays PLC now owns 420,636 shares of the bank’s stock worth $7,626,000 after purchasing an additional 186,215 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Fulton Financial in the 3rd quarter valued at about $1,784,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.
About Fulton Financial
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.
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