Fulton Financial (NASDAQ:FULT) Price Target Raised to $22.00 at DA Davidson

Fulton Financial (NASDAQ:FULT) had its price target hoisted by DA Davidson from $21.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for Fulton Financial’s Q1 2025 earnings at $0.42 EPS.

FULT has been the topic of a number of other reports. Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a research report on Thursday, October 17th. Keefe, Bruyette & Woods increased their target price on Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday. Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Finally, StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.33.

Fulton Financial Stock Down 0.1 %

Fulton Financial stock opened at $20.56 on Friday. The firm has a market capitalization of $3.74 billion, a P/E ratio of 13.10 and a beta of 0.79. The stock’s fifty day simple moving average is $20.46 and its 200-day simple moving average is $19.14. Fulton Financial has a twelve month low of $13.87 and a twelve month high of $22.49. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period last year, the company posted $0.42 EPS. As a group, equities analysts expect that Fulton Financial will post 1.79 earnings per share for the current fiscal year.

Fulton Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.50%. This is a boost from Fulton Financial’s previous quarterly dividend of $0.17. Fulton Financial’s payout ratio is 45.86%.

Insider Activity at Fulton Financial

In related news, CEO Curtis J. Myers sold 24,192 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the sale, the chief executive officer now owns 155,946 shares in the company, valued at $3,299,817.36. This represents a 13.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FULT. Millennium Management LLC grew its holdings in shares of Fulton Financial by 511.1% during the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock worth $55,287,000 after buying an additional 2,723,170 shares during the last quarter. Emerald Advisers LLC grew its stake in shares of Fulton Financial by 213.6% in the 3rd quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock valued at $23,706,000 after purchasing an additional 890,630 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Fulton Financial by 272.2% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank’s stock valued at $15,622,000 after purchasing an additional 630,152 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Fulton Financial by 710.0% during the second quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank’s stock worth $11,880,000 after purchasing an additional 613,272 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Fulton Financial by 4.4% during the third quarter. State Street Corp now owns 10,544,159 shares of the bank’s stock worth $191,166,000 after purchasing an additional 444,219 shares during the period. 72.02% of the stock is currently 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.