Keefe, Bruyette & Woods Cuts Fulton Financial (NASDAQ:FULT) Price Target to $21.00

Fulton Financial (NASDAQ:FULT) had its price objective lowered by stock analysts at Keefe, Bruyette & Woods from $24.00 to $21.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 31.50% from the company’s current price.

Several other analysts have also commented on FULT. Hovde Group boosted their price target on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research note on Monday, January 27th. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, DA Davidson reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Fulton Financial in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Fulton Financial presently has an average rating of “Hold” and a consensus price target of $19.93.

Fulton Financial Stock Down 0.4 %

Shares of FULT stock opened at $15.97 on Thursday. The stock has a market cap of $2.91 billion, a P/E ratio of 10.17 and a beta of 0.68. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a fifty day moving average price of $18.17 and a 200 day moving average price of $19.21. Fulton Financial has a one year low of $13.87 and a one year high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate 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 net margin of 15.87% and a return on equity of 11.41%. During the same period in the previous year, the business earned $0.40 EPS. Analysts predict that Fulton Financial will post 1.91 earnings per share for the current 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 on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares in the company, valued at $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.07% of the stock is currently owned by company insiders.

Institutional Trading of Fulton Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Fulton Financial during the fourth quarter worth approximately $38,010,000. Millennium Management LLC grew its holdings in Fulton Financial by 149.9% during the 4th quarter. Millennium Management LLC now owns 1,478,735 shares of the bank’s stock worth $28,510,000 after acquiring an additional 886,991 shares during the period. JPMorgan Chase & Co. raised its position in shares of Fulton Financial by 137.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank’s stock valued at $25,500,000 after acquiring an additional 765,313 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Fulton Financial by 133.7% in the 4th quarter. Nuveen Asset Management LLC now owns 1,239,500 shares of the bank’s stock valued at $23,898,000 after purchasing an additional 709,015 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Fulton Financial by 61.7% in the 4th quarter. First Trust Advisors LP now owns 1,770,377 shares of the bank’s stock worth $34,133,000 after purchasing an additional 675,819 shares during the last quarter. 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.