Fulton Financial (NASDAQ:FULT) Upgraded to “Hold” at Wall Street Zen

Fulton Financial (NASDAQ:FULT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

FULT has been the topic of several other research reports. Piper Sandler set a $23.00 price target on Fulton Financial and gave the stock a “neutral” rating in a research note on Friday, June 12th. Raymond James Financial raised their price objective on Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings upgraded Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fulton Financial currently has a consensus rating of “Hold” and an average price target of $23.50.

Fulton Financial Trading Up 1.3%

NASDAQ FULT opened at $24.57 on Friday. The stock has a market cap of $4.70 billion, a P/E ratio of 11.76 and a beta of 0.79. The company’s fifty day simple moving average is $23.12 and its 200-day simple moving average is $21.67. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06. Fulton Financial has a 52 week low of $16.60 and a 52 week high of $25.23.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. Fulton Financial had a net margin of 20.63% and a return on equity of 12.50%. The business had revenue of $363.56 million during the quarter, compared to analyst estimates of $358.83 million. During the same period last year, the business earned $0.55 EPS. The business’s revenue was up 12.2% on a year-over-year basis. Equities research analysts predict that Fulton Financial will post 2.18 EPS for the current fiscal year.

Insider Activity at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $24.14, for a total transaction of $120,700.00. Following the transaction, the director owned 75,477 shares of the company’s stock, valued at approximately $1,822,014.78. This trade represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.01% of the company’s stock.

Institutional Trading of Fulton Financial

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new position in Fulton Financial during the 4th quarter worth approximately $25,000. Root Financial Partners LLC increased its holdings in shares of Fulton Financial by 89.9% in the 1st quarter. Root Financial Partners LLC now owns 1,282 shares of the bank’s stock valued at $26,000 after acquiring an additional 607 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Fulton Financial in the 4th quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Fulton Financial during the 4th quarter valued at approximately $28,000. Finally, Torren Management LLC acquired a new stake in shares of Fulton Financial during the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.