Fulton Financial (NASDAQ:FULT) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Fulton Financial from "hold" to "sell", even as other firms remain split (Weiss recently upgraded to buy) and the consensus rating stays a "Hold" with an average price target of $21.50.
• Fulton beat quarterly EPS estimates ($0.55 vs. $0.52), with a market cap of $3.87 billion, a P/E of 10.36 and a 12‑month price range of $14.74–$22.99.
• The board authorized a $150 million share repurchase (≈4.2% of shares); insiders have recently trimmed holdings while institutional investors own about 72% of the stock.

Fulton Financial (NASDAQ:FULT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

A number of other brokerages also recently commented on FULT. Weiss Ratings upgraded Fulton Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 27th. DA Davidson began coverage on Fulton Financial in a research note on Wednesday, February 25th. They set a "neutral" rating and a $24.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $21.50.

Fulton Financial Price Performance

Shares of NASDAQ FULT opened at $21.54 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08. Fulton Financial has a twelve month low of $14.74 and a twelve month high of $22.99. The business has a 50 day simple moving average of $20.91 and a 200-day simple moving average of $19.55. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 10.36 and a beta of 0.81.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. Fulton Financial had a net margin of 20.68% and a return on equity of 12.78%. The business had revenue of $336.02 million during the quarter, compared to the consensus estimate of $336.80 million. During the same quarter in the prior year, the firm earned $0.48 EPS. As a group, equities research analysts expect that Fulton Financial will post 1.91 earnings per share for the current year.

Fulton Financial declared that its board has initiated a stock repurchase plan on Tuesday, December 16th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director E Philip Wenger sold 5,000 shares of the firm's stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $19.55, for a total transaction of $97,750.00. Following the completion of the transaction, the director owned 85,477 shares of the company's stock, valued at $1,671,075.35. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.08% of the stock is owned by corporate insiders.

Institutional Trading of Fulton Financial

A number of large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its holdings in Fulton Financial by 2.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 23,924 shares of the bank's stock worth $467,000 after buying an additional 580 shares in the last quarter. EJF Capital LLC boosted its position in shares of Fulton Financial by 2.6% in the 2nd quarter. EJF Capital LLC now owns 22,686 shares of the bank's stock valued at $409,000 after purchasing an additional 582 shares during the period. GAMMA Investing LLC boosted its position in shares of Fulton Financial by 16.8% in the 4th quarter. GAMMA Investing LLC now owns 4,262 shares of the bank's stock valued at $82,000 after purchasing an additional 613 shares during the period. Arizona State Retirement System boosted its position in shares of Fulton Financial by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 53,768 shares of the bank's stock valued at $1,002,000 after purchasing an additional 623 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of Fulton Financial by 48.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,995 shares of the bank's stock valued at $38,000 after purchasing an additional 647 shares during the period. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial's offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.

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