Fulton Financial Corp (FULT) Given a $18.00 Price Target by Keefe, Bruyette & Woods Analysts
Fulton Financial Corp (NASDAQ:FULT) received a $18.00 price target from stock analysts at Keefe, Bruyette & Woods in a report released on Monday. The brokerage presently has a “hold” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 1.69% from the company’s previous close.
Several other analysts have also issued reports on FULT. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 target price on shares of Fulton Financial Corp in a research note on Monday, May 15th. Barclays PLC reaffirmed a “sell” rating and issued a $18.00 target price (up previously from $17.00) on shares of Fulton Financial Corp in a research note on Friday, April 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.
Shares of Fulton Financial Corp (NASDAQ:FULT) traded up 1.14% on Monday, reaching $17.70. 677,544 shares of the company were exchanged. Fulton Financial Corp has a 12-month low of $12.66 and a 12-month high of $19.75. The stock’s 50-day moving average is $17.98 and its 200 day moving average is $18.26. The firm has a market capitalization of $3.09 billion, a PE ratio of 18.44 and a beta of 1.10.
Fulton Financial Corp (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, April 18th. The bank reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Fulton Financial Corp had a return on equity of 7.67% and a net margin of 20.37%. The company had revenue of $183.15 million during the quarter, compared to analyst estimates of $184.36 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Fulton Financial Corp’s revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that Fulton Financial Corp will post $1.07 EPS for the current year.
In other Fulton Financial Corp news, EVP Meg R. Mueller sold 3,266 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $18.90, for a total value of $61,727.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.75% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FULT. BlackRock Inc. increased its stake in shares of Fulton Financial Corp by 17,543.0% in the first quarter. BlackRock Inc. now owns 18,627,957 shares of the bank’s stock valued at $332,509,000 after buying an additional 18,522,374 shares during the last quarter. Norges Bank bought a new stake in shares of Fulton Financial Corp during the fourth quarter valued at $33,985,000. Principal Financial Group Inc. increased its stake in shares of Fulton Financial Corp by 159.8% in the first quarter. Principal Financial Group Inc. now owns 1,816,332 shares of the bank’s stock valued at $32,422,000 after buying an additional 1,117,263 shares during the last quarter. State Street Corp increased its stake in shares of Fulton Financial Corp by 11.7% in the fourth quarter. State Street Corp now owns 8,065,027 shares of the bank’s stock valued at $151,626,000 after buying an additional 845,682 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Fulton Financial Corp by 3.5% in the first quarter. Vanguard Group Inc. now owns 14,775,213 shares of the bank’s stock valued at $263,738,000 after buying an additional 499,352 shares during the last quarter. Hedge funds and other institutional investors own 58.70% of the company’s stock.
About Fulton Financial Corp
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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