Fulton Financial (NASDAQ:FULT) Now Covered by StockNews.com

StockNews.com started coverage on shares of Fulton Financial (NASDAQ:FULT – Get Rating) in a research note published on Thursday. The brokerage issued a hold rating on the bank’s stock.

Several other equities analysts have also recently commented on the stock. Janney Montgomery Scott assumed coverage on shares of Fulton Financial in a research note on Tuesday, January 10th. They set a neutral rating and a $19.50 target price for the company. DA Davidson cut their target price on shares of Fulton Financial from $18.00 to $17.00 and set a neutral rating for the company in a research note on Thursday, January 19th.

Fulton Financial Stock Performance

NASDAQ:FULT traded down $0.93 during trading hours on Thursday, hitting $14.40. 3,272,541 shares of the company traded hands, compared to its average volume of 1,168,785. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 8.62 and a beta of 0.80. Fulton Financial has a twelve month low of $13.72 and a twelve month high of $18.91. The firm has a 50-day moving average of $16.57 and a 200 day moving average of $16.96. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52.

Fulton Financial (NASDAQ:FULT – Get Rating) last released its earnings results on Tuesday, January 17th. The bank reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). The company had revenue of $284.54 million for the quarter, compared to analyst estimates of $285.36 million. Fulton Financial had a net margin of 26.28% and a return on equity of 12.92%. On average, analysts forecast that Fulton Financial will post 1.91 EPS for the current year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Friday, December 30th. Fulton Financial’s dividend payout ratio is 35.93%.

Insider Activity

In other Fulton Financial news, Director George K. Martin acquired 2,910 shares of the company’s stock in a transaction dated Tuesday, February 7th. The stock was bought at an average price of $17.16 per share, for a total transaction of $49,935.60. Following the purchase, the director now owns 8,870 shares in the company, valued at approximately $152,209.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director George K. Martin bought 2,910 shares of the stock in a transaction dated Tuesday, February 7th. The shares were acquired at an average price of $17.16 per share, with a total value of $49,935.60. Following the acquisition, the director now owns 8,870 shares in the company, valued at $152,209.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Meg R. Mueller sold 9,952 shares of the company’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $15.71, for a total transaction of $156,345.92. Following the completion of the sale, the executive vice president now directly owns 82,650 shares in the company, valued at approximately $1,298,431.50. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Fulton Financial

Several large investors have recently made changes to their positions in the company. SRS Capital Advisors Inc. grew its holdings in shares of Fulton Financial by 0.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 85,969 shares of the bank’s stock worth $1,447,000 after purchasing an additional 710 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Fulton Financial by 79.9% in the 4th quarter. Truist Financial Corp now owns 77,343 shares of the bank’s stock worth $1,302,000 after purchasing an additional 34,354 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Fulton Financial by 21.2% in the 4th quarter. Alliancebernstein L.P. now owns 479,240 shares of the bank’s stock worth $8,066,000 after purchasing an additional 83,773 shares during the last quarter. Point72 Middle East FZE bought a new stake in shares of Fulton Financial in the 4th quarter worth about $183,000. Finally, State of Tennessee Treasury Department grew its holdings in shares of Fulton Financial by 49.0% in the 4th quarter. State of Tennessee Treasury Department now owns 152,113 shares of the bank’s stock worth $2,560,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors own 64.84% of the company’s stock.

About Fulton Financial

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Fulton Financial Corp. is financial holding company, which through its subsidiaries, engages in the provision of consumer and commercial banking products and services. It offers checking account and savings deposit products, certificates of deposit and individual retirement accounts. The company also offers investment management, trust, brokerage, insurance and investment advisory services to consumer and commercial banking customers in the market areas serviced by the subsidiary banks.