Fulton Financial (NASDAQ:FULT) Given New $18.00 Price Target at DA Davidson

Fulton Financial (NASDAQ:FULT) had its price objective boosted by DA Davidson from $15.00 to $18.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the bank’s stock. DA Davidson also issued estimates for Fulton Financial’s Q2 2024 earnings at $0.14 EPS, FY2024 earnings at $1.30 EPS and FY2025 earnings at $1.70 EPS.

A number of other equities analysts have also weighed in on FULT. Keefe, Bruyette & Woods boosted their price objective on shares of Fulton Financial from $17.00 to $19.00 and gave the stock a market perform rating in a report on Tuesday. Jefferies Financial Group decreased their price objective on shares of Fulton Financial from $17.00 to $16.00 and set a hold rating for the company in a report on Monday, April 8th. Janney Montgomery Scott upgraded shares of Fulton Financial from a neutral rating to a buy rating and set a $19.50 target price for the company in a research note on Monday, April 29th. StockNews.com lowered shares of Fulton Financial from a hold rating to a sell rating in a research note on Friday, April 26th. Finally, Stephens decreased their target price on shares of Fulton Financial from $16.00 to $15.50 and set an equal weight rating for the company in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $17.60.

Fulton Financial Stock Performance

Shares of FULT opened at $17.03 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average price is $15.41 and its 200-day moving average price is $15.14. Fulton Financial has a 52 week low of $9.64 and a 52 week high of $17.34. The stock has a market cap of $2.76 billion, a P/E ratio of 10.58 and a beta of 0.77.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.68 dividend on an annualized basis and a yield of 3.99%. Fulton Financial’s payout ratio is presently 42.24%.

Institutional Investors Weigh In On Fulton Financial

Institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in Fulton Financial during the fourth quarter valued at approximately $27,805,000. Hsbc Holdings PLC lifted its position in Fulton Financial by 36.0% in the fourth quarter. Hsbc Holdings PLC now owns 2,593,793 shares of the bank’s stock worth $43,043,000 after buying an additional 686,269 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Fulton Financial by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock valued at $196,188,000 after acquiring an additional 297,923 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Fulton Financial by 16.0% in the third quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock valued at $20,370,000 after acquiring an additional 232,462 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Fulton Financial by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock worth $320,061,000 after purchasing an additional 216,465 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.

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.