Fulton Financial (NASDAQ:FULT) Rating Reiterated by Stephens

Fulton Financial (NASDAQ:FULT)‘s stock had its “equal weight” rating reiterated by equities research analysts at Stephens in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $16.00 target price on the bank’s stock. Stephens’ price objective suggests a potential upside of 10.88% from the stock’s current price.

Several other equities analysts have also recently weighed in on FULT. Keefe, Bruyette & Woods raised their price objective on Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. Jefferies Financial Group dropped their price target on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Finally, StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.30.

Fulton Financial Trading Down 0.4 %

FULT opened at $14.43 on Wednesday. The firm has a market capitalization of $2.34 billion, a PE ratio of 8.96 and a beta of 0.81. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.95. Fulton Financial has a fifty-two week low of $9.64 and a fifty-two week high of $17.06. The company’s 50-day moving average is $15.31 and its 200 day moving average is $14.88.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Wednesday, January 17th. The bank reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Fulton Financial had a return on equity of 11.85% and a net margin of 18.31%. The company had revenue of $271.38 million for the quarter, compared to analyst estimates of $268.70 million. During the same quarter last year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, research analysts predict that Fulton Financial will post 1.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Fulton Financial by 6.0% in the 1st quarter. BlackRock Inc. now owns 21,821,468 shares of the bank’s stock worth $362,670,000 after purchasing an additional 1,232,379 shares during the period. Vanguard Group Inc. increased its position in Fulton Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock worth $320,061,000 after buying an additional 216,465 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Fulton Financial by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock valued at $196,188,000 after buying an additional 297,923 shares during the period. State Street Corp lifted its position in shares of Fulton Financial by 8.9% during the 1st quarter. State Street Corp now owns 8,941,860 shares of the bank’s stock valued at $149,945,000 after buying an additional 731,995 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Fulton Financial by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,375,026 shares of the bank’s stock worth $40,230,000 after acquiring an additional 59,775 shares during the period. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Company Profile

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.