Fulton Financial’s (FULT) Neutral Rating Reaffirmed at DA Davidson

Fulton Financial (NASDAQ:FULT)‘s stock had its “neutral” rating reissued by stock analysts at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They currently have a $20.00 target price on the bank’s stock. DA Davidson’s target price would indicate a potential upside of 24.07% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Hovde Group boosted their price target on Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods boosted their target price on shares of Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, January 23rd. Finally, StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.36.

Fulton Financial Trading Up 0.6 %

NASDAQ:FULT traded up $0.09 during trading hours on Wednesday, hitting $16.12. The stock had a trading volume of 1,514,990 shares, compared to its average volume of 1,542,908. The business’s 50 day moving average is $18.26 and its 200-day moving average is $19.23. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 10.27 and a beta of 0.68. Fulton Financial has a one year low of $13.87 and a one year high of $22.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The business had revenue of $322.64 million for the quarter, compared to analyst estimates of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same quarter last year, the firm earned $0.40 EPS. Sell-side analysts anticipate that Fulton Financial will post 1.91 EPS for the current fiscal year.

Insider Activity at Fulton Financial

In other news, President Angela M. Snyder sold 13,322 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares of the company’s stock, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fulton Financial

Several institutional investors have recently made changes to their positions in FULT. XTX Topco Ltd bought a new stake in shares of Fulton Financial during the 3rd quarter valued at $267,000. MML Investors Services LLC grew its stake in Fulton Financial by 14.1% during the third quarter. MML Investors Services LLC now owns 23,971 shares of the bank’s stock worth $435,000 after buying an additional 2,967 shares in the last quarter. Barclays PLC increased its holdings in Fulton Financial by 79.4% in the 3rd quarter. Barclays PLC now owns 420,636 shares of the bank’s stock valued at $7,626,000 after buying an additional 186,215 shares during the period. Geode Capital Management LLC raised its position in shares of Fulton Financial by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank’s stock valued at $79,264,000 after buying an additional 85,574 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of Fulton Financial by 52.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 31,500 shares of the bank’s stock worth $571,000 after acquiring an additional 10,773 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.