Fulton Financial (NASDAQ:FULT) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Fulton Financial (NASDAQ:FULT - Get Free Report) had its price objective raised by equities researchers at Keefe, Bruyette & Woods from $21.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 12.13% from the stock's current price.

FULT has been the subject of a number of other research reports. Jefferies Financial Group reissued a "hold" rating on shares of Fulton Financial in a report on Wednesday, July 9th. DA Davidson reissued a "neutral" rating and set a $20.00 price target on shares of Fulton Financial in a report on Wednesday, April 16th. Finally, Piper Sandler reissued a "neutral" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Fulton Financial currently has an average rating of "Hold" and a consensus target price of $21.13.

Fulton Financial Price Performance

Shares of NASDAQ:FULT traded down $0.12 during trading on Thursday, reaching $19.62. 3,550,223 shares of the company traded hands, compared to its average volume of 1,420,804. The company's 50 day moving average is $17.97 and its two-hundred day moving average is $18.33. The firm has a market capitalization of $3.57 billion, a PE ratio of 11.47 and a beta of 0.77. The company has a quick ratio of 0.92, a current ratio of 0.89 and a debt-to-equity ratio of 0.36. Fulton Financial has a 52 week low of $14.33 and a 52 week high of $22.49.

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

Hedge Funds Weigh In On Fulton Financial

A number of institutional investors and hedge funds have recently bought and sold shares of FULT. Jones Financial Companies Lllp increased its stake in shares of Fulton Financial by 193.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock valued at $25,000 after buying an additional 853 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Fulton Financial in the fourth quarter valued at about $279,000. Raymond James Financial Inc. acquired a new stake in shares of Fulton Financial in the fourth quarter valued at about $1,676,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Fulton Financial by 19.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,606 shares of the bank's stock valued at $879,000 after buying an additional 7,309 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of Fulton Financial by 1.4% in the fourth quarter. HighTower Advisors LLC now owns 63,321 shares of the bank's stock valued at $1,221,000 after buying an additional 849 shares during the period. Institutional investors and hedge funds own 72.02% of the company's stock.

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.