Fulton Financial (NASDAQ:FULT - Get Free Report)'s stock had its "neutral" rating reissued by investment analysts at DA Davidson in a research note issued on Wednesday,Benzinga reports. They presently have a $20.00 price target on the bank's stock. DA Davidson's price target suggests a potential upside of 27.06% from the stock's previous close.
Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods increased their target price on Fulton Financial from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Thursday, January 23rd. StockNews.com upgraded Fulton Financial from a "sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Finally, Hovde Group increased their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Fulton Financial currently has an average rating of "Hold" and an average target price of $19.79.
Read Our Latest Stock Analysis on Fulton Financial
Fulton Financial Stock Down 0.9 %
FULT stock traded down $0.14 during midday trading on Wednesday, hitting $15.74. The company's stock had a trading volume of 1,933,364 shares, compared to its average volume of 1,558,014. Fulton Financial has a 52-week low of $14.33 and a 52-week high of $22.49. The firm has a 50-day simple moving average of $17.98 and a 200-day simple moving average of $19.21. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.87 billion, a P/E ratio of 10.03 and a beta of 0.68.
Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.08. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. The firm had revenue of $322.64 million for the quarter, compared to analyst estimates of $315.07 million. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, equities analysts forecast that Fulton Financial will post 1.91 EPS for the current year.
Insiders Place Their Bets
In related news, President Angela M. Snyder sold 13,322 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares in the company, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.07% of the stock is owned by insiders.
Institutional Trading of Fulton Financial
A number of institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp lifted 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 purchasing an additional 853 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Fulton Financial by 57.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock valued at $42,000 after purchasing an additional 800 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in Fulton Financial during the fourth quarter worth $44,000. GAMMA Investing LLC grew its holdings in Fulton Financial by 42.2% in the first quarter. GAMMA Investing LLC now owns 3,072 shares of the bank's stock valued at $56,000 after purchasing an additional 911 shares during the last quarter. Finally, Byrne Asset Management LLC increased its position in shares of Fulton Financial by 114.5% in the first quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank's stock valued at $58,000 after buying an additional 1,717 shares in the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.
About Fulton Financial
(
Get Free Report)
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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