Fulton Financial Co. (NASDAQ:FULT) has had its FY2024 earnings estimates lowered by DA Davidson analysts. They now expect earnings of $1.67 per share, down from $1.70. The current average estimate for the year is $1.73. For Q4 2024, DA Davidson predicts earnings of $0.40 per share and $1.74 for FY2025.
Piper Sandler has set a price target of $21.00 for Fulton Financial shares. StockNews.com upgraded the stocks from a “sell” to a “hold” rating on July 18, while Jefferies Financial Group cut their target from $18.50 to $18.00. Currently, five analysts recommend holding the stock, and one has a buy rating, with an average target price of $18.83 according to MarketBeat.com.
Fulton Financial Stock Update
FULT opened at $18.08 on Friday, with a market cap of $3.29 billion. The PE ratio is 11.23, and the stock has fluctuated between a low of $11.99 and a high of $20.33 in the past year. Recent earnings show $0.50 per share, exceeding estimates by $0.06, with revenue at $487.33 million.
Dividend Announcement
Fulton Financial announced a quarterly dividend of $0.17, paid on October 15, translating to an annual yield of 3.76%. The dividend payout ratio stands at 42.24%.
Institutional Investor Activity
Institutional investors have increased their stakes in Fulton Financial. Millennium Management LLC raised its holdings by over 511%, and several other firms also increased their investments significantly. Currently, institutional investors own 72.02% of the company’s stock.
About Fulton Financial
Fulton Financial Corporation offers various banking products in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia.
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