Fulton Financial (NASDAQ:FULT) Given New $24.00 Price Target at Keefe, Bruyette & Woods

Fulton Financial (NASDAQ:FULT) had its price objective raised by Keefe, Bruyette & Woods from $23.00 to $24.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.

Several other analysts also recently weighed in on the stock. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. StockNews.com downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Finally, Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.67.

Fulton Financial Trading Down 0.2 %

Shares of Fulton Financial stock opened at $20.58 on Thursday. 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 company has a market capitalization of $3.75 billion, a P/E ratio of 13.11 and a beta of 0.79. Fulton Financial has a 1 year low of $13.87 and a 1 year high of $22.49. The company’s fifty day moving average is $20.47 and its two-hundred day moving average is $19.11.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.06. Fulton Financial had a return on equity of 11.78% and a net margin of 15.87%. During the same period in the previous year, the firm posted $0.42 EPS. Analysts forecast that Fulton Financial will post 1.79 earnings per share for the current year.

Fulton Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.18 dividend. This is an increase from Fulton Financial’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 3.50%. The ex-dividend date was Tuesday, December 31st. Fulton Financial’s dividend payout ratio (DPR) is presently 45.86%.

Insider Buying and Selling

In other news, CEO Curtis J. Myers sold 24,192 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the transaction, the chief executive officer now owns 155,946 shares in the company, valued at $3,299,817.36. This trade represents a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fulton Financial

Large investors have recently added to or reduced their stakes in the business. EMC Capital Management raised its position in Fulton Financial by 151.2% during the fourth quarter. EMC Capital Management now owns 22,607 shares of the bank’s stock worth $436,000 after acquiring an additional 13,607 shares during the last quarter. Coston McIsaac & Partners raised its position in shares of Fulton Financial by 231.8% during the 4th quarter. Coston McIsaac & Partners now owns 9,887 shares of the bank’s stock worth $190,000 after purchasing an additional 6,907 shares during the last quarter. KBC Group NV raised its position in shares of Fulton Financial by 69.3% during the 4th quarter. KBC Group NV now owns 8,517 shares of the bank’s stock worth $164,000 after purchasing an additional 3,487 shares during the last quarter. Blue Trust Inc. lifted its stake in Fulton Financial by 10.3% in the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank’s stock valued at $99,000 after buying an additional 509 shares in the last quarter. Finally, Stillwater Capital Advisors LLC acquired a new stake in Fulton Financial during the 4th quarter valued at $540,000. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Company Profile

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.