Fulton Financial's (FULT) "Market Perform" Rating Reaffirmed at Keefe, Bruyette & Woods

Key Points

• Fulton Financial's stock rating remains at "market perform" with a revised target price of $20.00, down from $22.00, suggesting a potential upside of 12.58%.
• There is a mix of ratings from analysts, with three giving a "buy" rating and six issuing a "hold" rating, contributing to an average rating of "hold" and a consensus price target of $20.70.
• The company's recent earnings report showed an EPS of $0.45 and a net margin of 19.01%, indicating solid financial performance despite the lower stock price target.

Fulton Financial (NASDAQ:FULT - Get Free Report)'s stock had its "market perform" rating reiterated by research analysts at Keefe, Bruyette & Woods in a report issued on Thursday,Benzinga reports. They currently have a $20.00 target price on the bank's stock, down from their previous target price of $22.00. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 12.58% from the stock's previous close.

Several other brokerages have also recently issued reports on FULT. DA Davidson upped their price objective on Fulton Financial from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Fulton Financial in a report on Wednesday, October 8th. Raymond James Financial raised shares of Fulton Financial from a "market perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research report on Tuesday, October 7th. Zacks Research cut Fulton Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Fulton Financial in a research report on Wednesday, July 9th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $20.70.

Fulton Financial Stock Up 0.8%

FULT stock traded up $0.14 during midday trading on Thursday, reaching $17.77. 658,005 shares of the company were exchanged, compared to its average volume of 1,475,041. The stock's 50-day simple moving average is $18.77 and its 200 day simple moving average is $18.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.92. Fulton Financial has a 1-year low of $14.32 and a 1-year high of $22.49. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 9.32 and a beta of 0.82.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, November 8th. The bank reported $0.45 earnings per share (EPS) for the quarter. The business had revenue of $236.96 million for the quarter. Fulton Financial had a return on equity of 12.90% and a net margin of 19.01%. On average, equities analysts forecast that Fulton Financial will post 1.91 earnings per share for the current year.

Insider Activity

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $19.28, for a total transaction of $96,400.00. Following the completion of the transaction, the director directly owned 90,477 shares of the company's stock, valued at approximately $1,744,396.56. This represents a 5.24% 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. 1.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Fulton Financial by 42.2% in the 1st quarter. GAMMA Investing LLC now owns 3,072 shares of the bank's stock worth $56,000 after purchasing an additional 911 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake 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 last quarter. Blue Trust Inc. lifted its stake in shares of Fulton Financial by 15.1% in the 1st 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 last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Fulton Financial during the 1st quarter worth approximately $287,000. Finally, Illinois Municipal Retirement Fund raised its stake in shares of Fulton Financial by 4.2% during the first quarter. Illinois Municipal Retirement Fund now owns 102,699 shares of the bank's stock valued at $1,858,000 after acquiring an additional 4,143 shares in the last quarter. Institutional investors 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.

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