DA Davidson Forecasts Strong Price Appreciation for Fulton Financial (NASDAQ:FULT) Stock

Fulton Financial (NASDAQ:FULT - Get Free Report) had its target price boosted by analysts at DA Davidson from $17.00 to $20.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. DA Davidson's price objective points to a potential upside of 2.04% from the company's current price.

A number of other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Thursday. Jefferies Financial Group reissued a "hold" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Finally, Piper Sandler restated a "neutral" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $21.13.

Fulton Financial Price Performance

NASDAQ FULT traded up $0.60 on Thursday, hitting $19.60. The stock had a trading volume of 1,423,226 shares, compared to its average volume of 1,424,972. Fulton Financial has a 52-week low of $14.33 and a 52-week high of $22.49. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 11.45 and a beta of 0.77. The firm has a 50-day moving average of $17.93 and a 200-day moving average of $18.33.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.12. The firm had revenue of $328.45 million for the quarter, compared to analysts' expectations of $320.47 million. Fulton Financial had a net margin of 17.00% and a return on equity of 12.75%. During the same quarter last year, the company posted $0.52 EPS. Equities analysts expect that Fulton Financial will post 1.91 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in Fulton Financial by 193.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock valued at $25,000 after purchasing an additional 853 shares during the period. Quarry LP lifted its position in Fulton Financial by 1,669.6% during the first quarter. Quarry LP now owns 1,982 shares of the bank's stock valued at $36,000 after purchasing an additional 1,870 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Fulton Financial by 57.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock valued at $42,000 after purchasing an additional 800 shares during the period. GAMMA Investing LLC lifted its position in Fulton Financial by 42.2% during the first quarter. GAMMA Investing LLC now owns 3,072 shares of the bank's stock valued at $56,000 after purchasing an additional 911 shares during the period. Finally, Byrne Asset Management LLC lifted its position in Fulton Financial by 114.5% during the first quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank's stock valued at $58,000 after purchasing an additional 1,717 shares during the period. Institutional investors own 72.02% of the company's stock.

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.

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