Fulton Financial (NASDAQ:FULT) Raised to “Hold” at StockNews.com

Fulton Financial (NASDAQ:FULT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

A number of other equities analysts have also weighed in on the company. Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods boosted their price target on shares of Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Fulton Financial has a consensus rating of “Hold” and an average target price of $19.67.

Fulton Financial Stock Down 0.2 %

NASDAQ FULT traded down $0.05 on Thursday, hitting $20.58. 1,899,233 shares of the company were exchanged, compared to its average volume of 1,790,517. Fulton Financial has a 12 month low of $13.87 and a 12 month high of $22.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.75 billion, a PE ratio of 13.11 and a beta of 0.79. The stock has a fifty day moving average of $20.47 and a 200-day moving average of $19.11.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.78%. During the same quarter in the previous year, the firm posted $0.42 EPS. As a group, analysts forecast that Fulton Financial will post 1.79 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Curtis J. Myers sold 24,192 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction of $511,902.72. Following the completion of the sale, the chief executive officer now owns 155,946 shares in the company, valued at approximately $3,299,817.36. This trade represents a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FULT. Quarry LP bought a new stake in shares of Fulton Financial in the 3rd quarter worth approximately $33,000. Coston McIsaac & Partners purchased a new stake in Fulton Financial in the third quarter worth $54,000. Blue Trust Inc. raised its stake in shares of Fulton Financial by 28.8% in the third quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock valued at $84,000 after buying an additional 1,106 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Fulton Financial by 11.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after buying an additional 676 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Fulton Financial by 69.3% during the 4th quarter. KBC Group NV now owns 8,517 shares of the bank’s stock worth $164,000 after acquiring an additional 3,487 shares during the period. 72.02% of the stock is owned by institutional investors.

About Fulton Financial

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.