Fulton Financial (NASDAQ:FULT) Given New $22.00 Price Target at Keefe, Bruyette & Woods

Fulton Financial (NASDAQ:FULT - Get Free Report) had its price objective lifted by equities research analysts at Keefe, Bruyette & Woods from $21.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 12.13% from the company's current price.

Several other brokerages have also recently weighed in on FULT. Jefferies Financial Group reaffirmed a "hold" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Piper Sandler restated a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Finally, DA Davidson reiterated a "neutral" rating and issued a $20.00 price target on shares of Fulton Financial in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Fulton Financial currently has an average rating of "Hold" and a consensus target price of $21.13.

Fulton Financial Stock Down 0.6%

Shares of FULT traded down $0.12 during trading hours on Thursday, reaching $19.62. The stock had a trading volume of 3,550,223 shares, compared to its average volume of 1,403,762. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $18.02 and a 200 day simple moving average of $18.32. Fulton Financial has a 12 month low of $14.33 and a 12 month high of $22.49. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 11.47 and a beta of 0.77.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.43 by $0.12. Fulton Financial had a net margin of 17.00% and a return on equity of 12.44%. The business had revenue of $328.45 million for the quarter, compared to the consensus estimate of $320.47 million. During the same period in the prior year, the firm earned $0.52 earnings per share. Equities research analysts predict that Fulton Financial will post 1.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FULT. Summit Investment Advisors Inc. increased its holdings in Fulton Financial by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 18,997 shares of the bank's stock worth $366,000 after buying an additional 602 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Fulton Financial by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,303 shares of the bank's stock valued at $657,000 after buying an additional 684 shares during the period. Private Advisor Group LLC raised its holdings in Fulton Financial by 2.0% in the 1st quarter. Private Advisor Group LLC now owns 35,552 shares of the bank's stock worth $643,000 after purchasing an additional 704 shares during the period. Xponance Inc. boosted its position in Fulton Financial by 5.5% during the first quarter. Xponance Inc. now owns 13,775 shares of the bank's stock worth $249,000 after purchasing an additional 717 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Fulton Financial by 15.1% in the first quarter. Blue Trust Inc. now owns 5,728 shares of the bank's stock valued at $104,000 after purchasing an additional 752 shares during the period. 72.02% of the stock is owned by institutional investors and hedge funds.

About Fulton Financial

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.