Fulton Financial (NASDAQ:FULT) Price Target Raised to $25.00 at DA Davidson

Key Points

• DA Davidson raised Fulton Financial’s price target to $25 from $24 while maintaining a “neutral” rating, implying only 1.75% upside from the stock’s current price.
• Analyst sentiment remains cautious, with a consensus “Hold” rating from six analysts and an average price target of $23.75, despite Raymond James assigning an “outperform” rating and a $26 target.
• Fulton Financial shares opened at $24.57 and are near their 12-month high of $25.23. Institutional investors own approximately 72.02% of the company, while a director recently sold 5,000 shares.

Fulton Financial (NASDAQ:FULT - Get Free Report) had its price target raised by research analysts at DA Davidson from $24.00 to $25.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the bank's stock. DA Davidson's target price suggests a potential upside of 1.75% from the company's current price.

Several other analysts have also recently weighed in on the stock. Wall Street Zen upgraded shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Saturday. Raymond James Financial raised their target price on shares of Fulton Financial from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded shares of Fulton Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 1st. Finally, Piper Sandler set a $23.00 price target on shares of Fulton Financial and gave the stock a "neutral" rating in a research note on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $23.75.

Fulton Financial Price Performance

Shares of Fulton Financial stock opened at $24.57 on Friday. The company's fifty day simple moving average is $23.12 and its two-hundred day simple moving average is $21.68. Fulton Financial has a 12-month low of $16.60 and a 12-month high of $25.23. The firm has a market cap of $4.70 billion, a PE ratio of 11.76 and a beta of 0.79. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.06.

Insiders Place Their Bets

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the completion of the transaction, the director owned 75,477 shares of the company's stock, valued at approximately $1,822,014.78. This trade represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.01% of the company's stock.

Institutional Investors Weigh In On Fulton Financial

Several hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in shares of Fulton Financial by 4.9% during the first quarter. Royal Bank of Canada now owns 220,706 shares of the bank's stock valued at $3,992,000 after acquiring an additional 10,242 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Fulton Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,096 shares of the bank's stock valued at $1,955,000 after purchasing an additional 4,727 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Fulton Financial by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 448,832 shares of the bank's stock valued at $8,119,000 after purchasing an additional 21,596 shares in the last quarter. Jane Street Group LLC increased its stake in Fulton Financial by 914.9% during the 1st quarter. Jane Street Group LLC now owns 308,243 shares of the bank's stock valued at $5,576,000 after purchasing an additional 277,871 shares in the last quarter. Finally, Strs Ohio purchased a new position in Fulton Financial in the first quarter worth about $152,000. 72.02% of the stock is owned by institutional investors.

About Fulton Financial

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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