Keefe, Bruyette & Woods Issues Positive Forecast for Fulton Financial (NASDAQ:FULT) Stock Price

Fulton Financial (NASDAQ:FULT) had its price objective boosted by Keefe, Bruyette & Woods from $20.00 to $23.00 in a research note issued to investors on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Other equities analysts also recently issued research reports about the company. Piper Sandler set a $21.00 price objective on Fulton Financial in a research report on Thursday, October 17th. StockNews.com downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.50.

Fulton Financial Price Performance

Fulton Financial stock opened at $21.30 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $3.88 billion, a PE ratio of 13.33 and a beta of 0.77. Fulton Financial has a one year low of $13.87 and a one year high of $22.49. The business has a 50 day simple moving average of $19.19 and a 200 day simple moving average of $18.19.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. The firm had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. During the same quarter in the previous year, the company posted $0.43 EPS. On average, sell-side analysts forecast that Fulton Financial will post 1.74 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 3.19%. Fulton Financial’s dividend payout ratio (DPR) is currently 43.04%.

Institutional Investors Weigh In On Fulton Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Fulton Financial during the third quarter worth $33,000. Family Firm Inc. acquired a new stake in shares of Fulton Financial during the second quarter worth $46,000. Coston McIsaac & Partners acquired a new stake in shares of Fulton Financial during the third quarter worth $54,000. Blue Trust Inc. grew its stake in shares of Fulton Financial by 21.9% during the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after purchasing an additional 691 shares during the period. Finally, TD Private Client Wealth LLC grew its stake in shares of Fulton Financial by 11.6% during the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock worth $118,000 after purchasing an additional 676 shares during the period. 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.