Fulton Financial Corporation (NASDAQ:FULT) – Stock analysts at Jefferies Group issued their FY2019 earnings per share (EPS) estimates for shares of Fulton Financial Corporation in a research report issued on Monday. Jefferies Group analyst C. Haire expects that the bank will earn $1.27 per share for the year. Jefferies Group currently has a “Hold” rating and a $20.00 target price on the stock.
Other analysts have also issued research reports about the company. Zacks Investment Research raised Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Wednesday, September 20th. ValuEngine raised Fulton Financial Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Stephens initiated coverage on Fulton Financial Corporation in a research note on Thursday, July 13th. They issued an “equal weight” rating for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $17.50 target price on shares of Fulton Financial Corporation in a research note on Tuesday, October 3rd. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial Corporation in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Fulton Financial Corporation currently has a consensus rating of “Hold” and a consensus target price of $18.25.
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Fulton Financial Corporation (FULT) traded up 0.921% during midday trading on Tuesday, hitting $19.175. 303,658 shares of the stock were exchanged. The company has a market capitalization of $3.35 billion, a P/E ratio of 19.369 and a beta of 1.17. Fulton Financial Corporation has a 1-year low of $14.04 and a 1-year high of $19.90. The company’s 50 day moving average is $17.87 and its 200 day moving average is $18.10.
Fulton Financial Corporation (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, July 18th. The bank reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Fulton Financial Corporation had a net margin of 20.86% and a return on equity of 8.02%. The company had revenue of $193.93 million for the quarter, compared to the consensus estimate of $194.02 million. During the same period last year, the company posted $0.23 EPS.
Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Fulton Financial Corporation by 7.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,721 shares of the bank’s stock valued at $147,000 after purchasing an additional 519 shares during the period. Advisor Group Inc. boosted its stake in shares of Fulton Financial Corporation by 5.3% during the second quarter. Advisor Group Inc. now owns 8,336 shares of the bank’s stock valued at $158,000 after purchasing an additional 417 shares during the period. Jane Street Group LLC purchased a new stake in shares of Fulton Financial Corporation during the first quarter valued at approximately $184,000. Invictus RG purchased a new stake in shares of Fulton Financial Corporation during the first quarter valued at approximately $186,000. Finally, Riverhead Capital Management LLC boosted its stake in shares of Fulton Financial Corporation by 56.0% during the second quarter. Riverhead Capital Management LLC now owns 9,985 shares of the bank’s stock valued at $190,000 after purchasing an additional 3,585 shares during the period. 62.99% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Michael J. Deporter sold 1,500 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $18.00, for a total transaction of $27,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig A. Roda sold 19,309 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $18.42, for a total value of $355,671.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,348 shares of company stock valued at $484,312. 0.68% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, September 29th. Fulton Financial Corporation’s dividend payout ratio is currently 44.44%.
About Fulton Financial Corporation
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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