BlackRock Fund Advisors has recently announced that it has increased stake in Fulton Financial Corporation (NASDAQ:FULT) by 0.25%. After grabbing 18.6 million shares, the institutional investor is now in possession of 46681.0 shares of the Financial Company. The new investment brought the stake of investor firm to 11.12% having worth around $339.11 million. Moreover, The Vanguard Group, Inc. increased its share by 0.93 million to have a control over 16.84 million shares. And Dimensional Fund Advisors LP raised its holdings to 0.48 million shares by acquiring 12.01 million shares or 7.18% of the stake.
Fulton Financial Corporation (FULT) concluded trading on 11/23/22 at a closing price of $18.45, with 0.47 million shares of worth about $8.75 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 18.57% during that period and on Wednesday the price saw a loss of about -0.59%. Currently the company’s common shares owned by public are about 167.35M shares, out of which, 165.99M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the FULT stock and their offered price forecasts bring an average price target of $19.08. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $21.00 and could fall to a lowest price of $18.00. The stock’s current price level is 3.3% above of average price target set by the analysts, while a rise to estimated low would result in loss of -2.5% for the stock. However, touching the estimated high of $21.00 would mean a gain of 12.14% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 61 times over the past 12 months. They bought 226,743 shares in 45 of the transactions. In 16 selling transactions, insiders dumped 121,832 shares.
Vanguard Total Stock Market Index, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Fulton Financial Corporation Vanguard Total Stock Market Index is currently holding 5.11 million shares of worth totaling $93.09 million. The company recently came buying 18149.0 shares which brought its stake up to 3.05% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF bought 1956.0 shares, after which its hold over company’s outstanding shares expand to 3.01%, leaving 5.03 million shares with the mutual fund that have a worth of about $91.7 million. Vanguard Small Cap Index Fund, after buying 4.32 million shares, have now control over 2.58% of the stake in the company. It holds 68129.0 shares of worth $78.72 million.
However, the stock later moved at a day high price of 18.59, or with a loss of -0.59%. Stock saw a price change of 1.54% in past 5 days and over the past one month there was a price change of 4.24%. Year-to-date (YTD), FULT shares are showing a performance of 8.53% which increased to 7.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $13.72 but also hit the highest price of $19.17 during that period. The average intraday trading volume for Fulton Financial Corporation shares is 921.22K. The stock is currently trading 1.19% above its 20-day simple moving average (SMA20), while that difference is up 6.74% for SMA50 and it goes to 11.90% higher than SMA200.
BlackRock Fund Advisors acquired 18.6 million shares of Fulton Financial Corporation having value of about $339.11 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 46681.0 shares in the company valued at close to $861264.45, or have control over 0.25% stake in the company. Fulton Financial Corporation (NASDAQ: FULT) currently have 167.35M outstanding shares and institutions hold larger chunk of about 66.90% of that. Holding of mutual funds in the company is about 44.95% while other institutional holders and individual stake holders have control over 5.96% and 21.70% of the stake respectively.
The stock has a current market capitalization of $3.06B and its 3Y-monthly beta is at 0.81. PE ratio of stock for trailing 12 months is 11.77, while it has posted earnings per share of $1.57 in the same period. Its PEG reads 1.47 while making debt-to-equity ratio of 0.24. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FULT, volatility over the week remained 1.31% while standing at 1.81% over the month.
Analysts are in expectations that Fulton Financial Corporation (FULT) stock would likely to be making an EPS of $0.51 in the current quarter, while forecast for next quarter EPS is $0.47 and it is $1.91 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.48 which is $0.53 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.37 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 50.60% while it is estimated to increase by 15.52% in next year. EPS is likely to shrink at an annualized rate of 8.00% for next 5-years, compared to annual growth of 11.90% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the Fulton Financial Corporation (FULT)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 7 Wall Street analysts, 1 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stephens on April 21, 2022 offering an Overweight rating for the stock and assigned a target price of $20.50 to it. Stock get an Overweight rating from Barclays on October 03, 2018.