Fulton Financial (NASDAQ:FULT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Fulton Financial (NASDAQ:FULT) from a sell rating to a hold rating in a report released on Saturday.

A number of other research firms also recently commented on FULT. Piper Sandler set a $23.00 price target on Fulton Financial and gave the stock a “neutral” rating in a research note on Friday, June 12th. Raymond James Financial upped their price objective on Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.75.

Fulton Financial Price Performance

FULT opened at $24.40 on Friday. The company has a market capitalization of $4.66 billion, a P/E ratio of 11.67 and a beta of 0.79. The company has a 50-day moving average of $23.19 and a 200-day moving average of $21.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial has a 1-year low of $16.60 and a 1-year high of $25.23.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Fulton Financial’s dividend payout ratio is 36.36%.

Insider Activity

In other news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $24.14, for a total value of $120,700.00. Following the transaction, the director directly owned 75,477 shares in the company, valued at approximately $1,822,014.78. This trade represents a 6.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On Fulton Financial

A number of institutional investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. raised its stake in Fulton Financial by 24.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 18,266 shares of the bank’s stock worth $442,000 after acquiring an additional 3,564 shares during the period. Stonebridge Financial Group LLC acquired a new position in Fulton Financial in the second quarter valued at approximately $208,000. Empowered Funds LLC bought a new position in shares of Fulton Financial during the first quarter valued at approximately $266,000. Alpine Woods Capital Investors LLC bought a new position in shares of Fulton Financial during the first quarter valued at approximately $202,000. Finally, Axiom Investment Management LLC bought a new position in shares of Fulton Financial during the first quarter valued at approximately $28,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Company Profile

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.