Fulton Financial Corporation (NASDAQ:FULT)‘s stock had its “hold” rating restated by stock analysts at Jefferies Group LLC in a research note issued to investors on Friday, July 14th. They currently have a $20.00 price target on the bank’s stock. Jefferies Group LLC’s price target points to a potential upside of 15.94% from the company’s current price.
FULT has been the subject of a number of other research reports. Keefe, Bruyette & Woods set a $17.00 target price on Fulton Financial Corporation and gave the stock a “hold” rating in a report on Monday, April 10th. BidaskClub upgraded Fulton Financial Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Stephens initiated coverage on Fulton Financial Corporation in a report on Thursday, July 13th. They set an “equal weight” rating for the company. ValuEngine upgraded Fulton Financial Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Finally, Barclays PLC reissued a “sell” rating and set a $18.00 price target (up from $17.00) on shares of Fulton Financial Corporation in a research report on Friday, April 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $18.33.
Shares of Fulton Financial Corporation (FULT) opened at 17.25 on Friday. The firm has a market cap of $3.02 billion, a PE ratio of 17.42 and a beta of 1.16. Fulton Financial Corporation has a 12 month low of $13.81 and a 12 month high of $19.90. The stock’s 50 day moving average is $18.48 and its 200 day moving average is $18.35.
Fulton Financial Corporation (NASDAQ:FULT) last issued its earnings results on Tuesday, July 18th. The bank reported $0.26 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.26. Fulton Financial Corporation had a return on equity of 8.02% and a net margin of 20.86%. The business had revenue of $193.93 million during the quarter, compared to analysts’ expectations of $194.02 million. During the same quarter in the previous year, the business earned $0.23 EPS. On average, analysts anticipate that Fulton Financial Corporation will post $1.06 earnings per share for the current fiscal year.
In other Fulton Financial Corporation news, insider Michael J. Deporter sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $18.00, for a total value of $27,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director R Scott Smith, Jr. sold 5,539 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $18.35, for a total value of $101,640.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,348 shares of company stock worth $484,312. 0.68% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund raised its position in shares of Fulton Financial Corporation by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 60,853 shares of the bank’s stock worth $1,086,000 after buying an additional 800 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Fulton Financial Corporation by 159.8% in the first quarter. Principal Financial Group Inc. now owns 1,816,332 shares of the bank’s stock worth $32,422,000 after buying an additional 1,117,263 shares during the last quarter. Bbva Compass Bancshares Inc. raised its stake in Fulton Financial Corporation by 2.8% in the first quarter. Bbva Compass Bancshares Inc. now owns 23,366 shares of the bank’s stock valued at $418,000 after buying an additional 642 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Fulton Financial Corporation by 9.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 29,850 shares of the bank’s stock valued at $561,000 after buying an additional 2,700 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Fulton Financial Corporation by 3.9% in the first quarter. Parametric Portfolio Associates LLC now owns 724,499 shares of the bank’s stock valued at $12,932,000 after buying an additional 27,460 shares in the last quarter. 62.08% of the stock is currently owned by institutional investors.
About Fulton Financial Corporation
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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