Keefe, Bruyette & Woods Reiterates “Hold” Rating for Fulton Financial Corporation (FULT)
Fulton Financial Corporation (NASDAQ:FULT)‘s stock had its “hold” rating restated by analysts at Keefe, Bruyette & Woods in a research report issued on Tuesday. They currently have a $17.50 target price on the bank’s stock. Keefe, Bruyette & Woods’ target price indicates a potential downside of 7.65% from the stock’s previous close.
Several other equities research analysts have also recently commented on FULT. Stephens began coverage on shares of Fulton Financial Corporation in a research report on Thursday, July 13th. They issued an “equal weight” rating on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 target price on shares of Fulton Financial Corporation in a research note on Friday, July 14th. ValuEngine upgraded Fulton Financial Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Boenning Scattergood reiterated a “hold” rating on shares of Fulton Financial Corporation in a report on Wednesday, July 19th. Finally, Zacks Investment Research raised Fulton Financial Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $18.25.
Shares of Fulton Financial Corporation (FULT) traded down 0.26% on Tuesday, reaching $18.95. The company’s stock had a trading volume of 890,179 shares. The stock has a market cap of $3.32 billion, a PE ratio of 19.14 and a beta of 1.17. Fulton Financial Corporation has a 1-year low of $14.04 and a 1-year high of $19.90. The company’s 50 day moving average is $17.67 and its 200-day moving average is $18.06.
Fulton Financial Corporation (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, July 18th. The bank reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Fulton Financial Corporation had a net margin of 20.86% and a return on equity of 8.02%. The company had revenue of $193.93 million during the quarter, compared to analysts’ expectations of $194.02 million. During the same quarter in the prior year, the company earned $0.23 earnings per share. On average, equities analysts predict that Fulton Financial Corporation will post $1.06 earnings per share for the current fiscal year.
In other Fulton Financial Corporation news, insider Michael J. Deporter sold 1,500 shares of Fulton Financial Corporation stock in a transaction on Friday, July 21st. The shares were sold at an average price of $18.00, for a total value of $27,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director R Scott Smith, Jr. sold 5,539 shares of Fulton Financial Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $18.35, for a total transaction of $101,640.65. The disclosure for this sale can be found here. Insiders have sold 26,348 shares of company stock valued at $484,312 in the last 90 days. 0.68% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Jennison Associates grew its holdings in shares of Fulton Financial Corporation by 3.4% in the 3rd quarter. Jennison Associates now owns 163,958 shares of the bank’s stock valued at $1,984,000 after acquiring an additional 5,379 shares in the last quarter. Fulton Bank raised its holdings in Fulton Financial Corporation by 29.5% during the fourth quarter. Fulton Bank now owns 32,386 shares of the bank’s stock worth $422,000 after acquiring an additional 7,368 shares in the last quarter. Dalton Greiner Hartman Maher & Company boosted its position in Fulton Financial Corporation by 3.4% during the fourth quarter. Dalton Greiner Hartman Maher & Company now owns 1,197,737 shares of the bank’s stock valued at $15,583,000 after purchasing an additional 39,789 shares during the last quarter. Smith Graham & Co. Investment Advisors LP boosted its position in Fulton Financial Corporation by 3.4% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 263,930 shares of the bank’s stock valued at $3,434,000 after purchasing an additional 8,690 shares during the last quarter. Finally, Russell Frank Co boosted its position in Fulton Financial Corporation by 115.4% during the fourth quarter. Russell Frank Co now owns 466,407 shares of the bank’s stock valued at $6,171,000 after purchasing an additional 249,884 shares during the last quarter. Institutional investors own 62.99% of the company’s stock.
About Fulton Financial Corporation
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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