Fulton Financial (NASDAQ:FULT - Get Free Report) had its price objective cut by analysts at Jefferies Financial Group from $17.00 to $16.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a "hold" rating on the bank's stock. Jefferies Financial Group's target price indicates a potential upside of 3.36% from the stock's current price.
Other research analysts have also issued reports about the company. StockNews.com raised Fulton Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, March 13th. Stephens reaffirmed an "equal weight" rating and issued a $16.00 target price on shares of Fulton Financial in a research report on Wednesday, January 17th. Finally, Keefe, Bruyette & Woods increased their target price on Fulton Financial from $16.00 to $17.00 and gave the stock a "market perform" rating in a research report on Thursday, January 18th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $15.40.
Get Our Latest Analysis on FULT
Fulton Financial Trading Up 1.0 %
Shares of FULT stock traded up $0.16 during mid-day trading on Monday, hitting $15.48. 543,112 shares of the company's stock were exchanged, compared to its average volume of 1,101,436. Fulton Financial has a fifty-two week low of $9.64 and a fifty-two week high of $17.06. The stock has a 50-day simple moving average of $15.43 and a two-hundred day simple moving average of $14.74. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 9.44 and a beta of 0.81.
Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. Fulton Financial had a return on equity of 12.01% and a net margin of 18.94%. The business had revenue of $271.38 million for the quarter, compared to analysts' expectations of $268.70 million. During the same quarter last year, the firm earned $0.48 earnings per share. The business's revenue was down 3.2% on a year-over-year basis. Equities analysts expect that Fulton Financial will post 1.51 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in FULT. Norges Bank purchased a new position in Fulton Financial in the fourth quarter valued at about $29,379,000. BlackRock Inc. raised its position in Fulton Financial by 6.0% in the first quarter. BlackRock Inc. now owns 21,821,468 shares of the bank's stock valued at $362,670,000 after purchasing an additional 1,232,379 shares during the period. Millennium Management LLC raised its position in Fulton Financial by 108.4% in the fourth quarter. Millennium Management LLC now owns 2,285,030 shares of the bank's stock valued at $38,457,000 after purchasing an additional 1,188,745 shares during the period. Vanguard Group Inc. raised its position in Fulton Financial by 7.2% in the third quarter. Vanguard Group Inc. now owns 17,117,537 shares of the bank's stock valued at $270,457,000 after purchasing an additional 1,149,047 shares during the period. Finally, State Street Corp raised its position in Fulton Financial by 14.6% in the second quarter. State Street Corp now owns 8,853,370 shares of the bank's stock valued at $106,947,000 after purchasing an additional 1,125,867 shares during the period. 72.02% of the stock is 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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