Jefferies Group LLC Reaffirms Hold Rating for Fulton Financial Corporation (FULT)

Jefferies Group LLC restated their hold rating on shares of Fulton Financial Corporation (NASDAQ:FULT) in a report published on Friday morning. The brokerage currently has a $20.00 price target on the bank’s stock.

Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Fulton Financial Corporation from a buy rating to a hold rating in a research report on Friday, July 21st. Keefe, Bruyette & Woods reiterated a hold rating and set a $18.00 price objective on shares of Fulton Financial Corporation in a research report on Friday, June 23rd. ValuEngine upgraded shares of Fulton Financial Corporation from a hold rating to a buy rating in a research report on Tuesday, June 6th. Stephens started coverage on shares of Fulton Financial Corporation in a research report on Thursday, July 13th. They set an equal weight rating on the stock. Finally, Boenning Scattergood reiterated a hold rating on shares of Fulton Financial Corporation in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $18.33.

Fulton Financial Corporation (NASDAQ FULT) opened at 17.80 on Friday. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 17.98 and a beta of 1.16. Fulton Financial Corporation has a 52 week low of $14.04 and a 52 week high of $19.90. The firm’s 50 day moving average price is $17.50 and its 200-day moving average price is $18.10.

Fulton Financial Corporation (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, July 18th. The bank reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Fulton Financial Corporation had a net margin of 20.86% and a return on equity of 8.02%. The firm had revenue of $193.93 million for the quarter, compared to analysts’ expectations of $194.02 million. During the same period in the previous year, the company posted $0.23 EPS. Analysts expect that Fulton Financial Corporation will post $1.06 EPS for the current year.

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In other news, Director R Scott Smith, Jr. sold 5,539 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $18.35, for a total transaction of $101,640.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael J. Deporter sold 1,500 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $18.00, for a total transaction of $27,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,348 shares of company stock worth $484,312. 0.68% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Capstone Asset Management Co. grew its holdings in shares of Fulton Financial Corporation by 0.5% during the 1st quarter. Capstone Asset Management Co. now owns 13,849 shares of the bank’s stock valued at $247,000 after acquiring an additional 70 shares in the last quarter. LS Investment Advisors LLC grew its holdings in shares of Fulton Financial Corporation by 0.6% during the 1st quarter. LS Investment Advisors LLC now owns 11,894 shares of the bank’s stock valued at $212,000 after acquiring an additional 72 shares in the last quarter. Wagner Bowman Management Corp grew its holdings in shares of Fulton Financial Corporation by 0.6% during the 2nd quarter. Wagner Bowman Management Corp now owns 12,178 shares of the bank’s stock valued at $231,000 after acquiring an additional 74 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Fulton Financial Corporation by 0.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 15,522 shares of the bank’s stock valued at $295,000 after acquiring an additional 77 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Fulton Financial Corporation by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,513 shares of the bank’s stock valued at $485,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 62.99% of the company’s stock.

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).

Analyst Recommendations for Fulton Financial Corporation (NASDAQ:FULT)

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