Fulton Financial (NASDAQ:FULT) Receives Hold Rating from Boenning Scattergood

Boenning Scattergood reaffirmed their hold rating on shares of Fulton Financial (NASDAQ:FULT) in a report published on Wednesday, AnalystRatings.com reports. Boenning Scattergood also issued estimates for Fulton Financial’s Q3 2019 earnings at $0.34 EPS, Q4 2019 earnings at $0.36 EPS, FY2019 earnings at $1.39 EPS and FY2020 earnings at $1.45 EPS.

FULT has been the topic of several other research reports. DA Davidson restated a buy rating on shares of Umpqua in a research note on Thursday, April 18th. ValuEngine upgraded Xylem from a hold rating to a buy rating in a research note on Friday, June 21st. Zacks Investment Research upgraded General Moly from a sell rating to a hold rating in a research note on Thursday, July 11th. Finally, BidaskClub upgraded Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Fulton Financial presently has a consensus rating of Hold and a consensus target price of $18.88.

Fulton Financial stock opened at $16.63 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $2.81 billion, a P/E ratio of 14.09, a P/E/G ratio of 1.51 and a beta of 1.02. The stock has a 50 day moving average of $16.18. Fulton Financial has a twelve month low of $14.38 and a twelve month high of $18.45.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, July 16th. The bank reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $221.94 million for the quarter, compared to the consensus estimate of $218.51 million. Fulton Financial had a return on equity of 10.51% and a net margin of 23.75%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 EPS. Research analysts predict that Fulton Financial will post 1.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.52 annualized dividend and a yield of 3.13%. Fulton Financial’s dividend payout ratio is 44.07%.

In other Fulton Financial news, insider Michael J. Deporter sold 3,000 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $16.91, for a total transaction of $50,730.00. Following the sale, the insider now directly owns 2,266 shares in the company, valued at approximately $38,318.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Curtis J. Myers sold 6,500 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $17.03, for a total value of $110,695.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,660 shares of company stock worth $249,145. Company insiders own 1.02% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of FULT. Toronto Dominion Bank boosted its stake in Fulton Financial by 25.3% during the 1st quarter. Toronto Dominion Bank now owns 3,167 shares of the bank’s stock valued at $49,000 after purchasing an additional 639 shares during the last quarter. Hudock Capital Group LLC boosted its stake in Fulton Financial by 99.8% during the 1st quarter. Hudock Capital Group LLC now owns 4,855 shares of the bank’s stock valued at $75,000 after purchasing an additional 2,425 shares during the last quarter. Pearl River Capital LLC purchased a new stake in Fulton Financial during the 1st quarter valued at $112,000. Bessemer Group Inc. purchased a new stake in Fulton Financial during the 4th quarter valued at $121,000. Finally, ETF Managers Group LLC boosted its stake in Fulton Financial by 9.5% during the 1st quarter. ETF Managers Group LLC now owns 8,203 shares of the bank’s stock valued at $127,000 after purchasing an additional 709 shares during the last quarter. Institutional investors and hedge funds own 65.00% of the company’s stock.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.

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Analyst Recommendations for Fulton Financial (NASDAQ:FULT)

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