Stephens Lowers Fulton Financial (NASDAQ:FULT) Price Target to $15.50

Fulton Financial (NASDAQ:FULT) had its price objective lowered by investment analysts at Stephens from $16.00 to $15.50 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Stephens’ price objective would indicate a potential upside of 3.40% from the stock’s previous close.

A number of other brokerages have also weighed in on FULT. Jefferies Financial Group reduced their target price on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, April 8th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods upped their price target 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 research analysts have rated the stock with a hold rating, According to MarketBeat.com, Fulton Financial presently has an average rating of “Hold” and an average target price of $15.30.

Fulton Financial Price Performance

Shares of FULT opened at $14.99 on Thursday. The stock has a 50 day simple moving average of $15.30 and a 200 day simple moving average of $14.90. Fulton Financial has a 52-week low of $9.64 and a 52-week high of $17.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 0.90. The firm has a market capitalization of $2.43 billion, a PE ratio of 9.31 and a beta of 0.81.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Wednesday, January 17th. The bank reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. Fulton Financial had a net margin of 18.31% and a return on equity of 11.50%. The company had revenue of $271.38 million during the quarter, compared to analysts’ expectations of $268.70 million. During the same quarter in the prior year, the company earned $0.48 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Sell-side analysts predict that Fulton Financial will post 1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Morton Brown Family Wealth LLC acquired a new stake in shares of Fulton Financial in the 4th quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in Fulton Financial by 82.8% in the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock valued at $28,000 after acquiring an additional 781 shares during the last quarter. Strs Ohio bought a new position in shares of Fulton Financial in the 4th quarter valued at about $29,000. Disciplined Equity Management Inc. acquired a new position in shares of Fulton Financial during the 4th quarter worth about $32,000. Finally, Lazard Asset Management LLC raised its holdings in shares of Fulton Financial by 1,554.1% in the 1st quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,067 shares during the period. 72.02% of the stock is currently owned by 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.