Fulton Financial (NASDAQ:FULT)‘s stock had its “hold” rating reiterated by equities researchers at Boenning Scattergood in a research note issued to investors on Wednesday, April 17th, TipRanks reports. Boenning Scattergood also issued estimates for Fulton Financial’s Q2 2019 earnings at $0.36 EPS, Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at $0.35 EPS, FY2019 earnings at $1.42 EPS and FY2020 earnings at $1.48 EPS.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research raised Fulton Financial from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Friday, April 5th. BidaskClub raised Fulton Financial from a “strong sell” rating to a “sell” rating in a report on Friday, March 29th. ValuEngine downgraded Fulton Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Piper Jaffray Companies downgraded Fulton Financial from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $19.00 to $17.50 in a report on Thursday, January 17th. Finally, Barclays reissued a “buy” rating and issued a $21.00 price objective on shares of Fulton Financial in a report on Friday, January 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Fulton Financial has an average rating of “Hold” and an average target price of $18.88.
Shares of FULT stock traded up $0.10 during trading hours on Wednesday, reaching $16.98. 790,230 shares of the stock were exchanged, compared to its average volume of 1,074,489. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 0.97. Fulton Financial has a 12-month low of $14.38 and a 12-month high of $18.45. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.48 and a beta of 0.98.
Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, April 16th. The bank reported $0.33 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.33. Fulton Financial had a net margin of 21.95% and a return on equity of 9.50%. The firm had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.93 million. During the same period in the prior year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that Fulton Financial will post 1.39 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in FULT. Toronto Dominion Bank purchased a new position in Fulton Financial in the fourth quarter worth $39,000. Oregon Public Employees Retirement Fund increased its position in shares of Fulton Financial by 1,448.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,071,618 shares of the bank’s stock valued at $69,000 after buying an additional 1,002,392 shares in the last quarter. Hudock Capital Group LLC increased its position in shares of Fulton Financial by 99.8% in the first quarter. Hudock Capital Group LLC now owns 4,855 shares of the bank’s stock valued at $75,000 after buying an additional 2,425 shares in the last quarter. ETF Managers Group LLC increased its position in shares of Fulton Financial by 18.1% in the fourth quarter. ETF Managers Group LLC now owns 7,494 shares of the bank’s stock valued at $116,000 after buying an additional 1,148 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new position in shares of Fulton Financial in the fourth quarter valued at $121,000. Hedge funds and other institutional investors own 66.79% of the company’s stock.
About Fulton Financial
Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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