Fulton Financial (NASDAQ:FULT) had its price objective boosted by stock analysts at Barclays from $18.00 to $19.00 in a note issued to investors on Tuesday. The firm presently has an “underweight” rating on the bank’s stock. Barclays’ price objective points to a potential upside of 6.15% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Wednesday, September 20th. Piper Jaffray Companies reissued a “hold” rating and issued a $18.00 price target on shares of Fulton Financial in a report on Thursday, October 19th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $17.00 price target on shares of Fulton Financial in a report on Thursday, October 19th. Jefferies Group reissued a “hold” rating and issued a $20.00 price target on shares of Fulton Financial in a report on Friday, September 15th. Finally, BidaskClub downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.80.
Shares of Fulton Financial (NASDAQ FULT) traded down $0.20 during trading hours on Tuesday, reaching $17.90. 806,100 shares of the company’s stock were exchanged, compared to its average volume of 865,190. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $3,134.68, a price-to-earnings ratio of 17.38 and a beta of 1.17. Fulton Financial has a 12-month low of $16.45 and a 12-month high of $19.90.
A number of institutional investors and hedge funds have recently made changes to their positions in FULT. Hillcrest Asset Management LLC purchased a new stake in Fulton Financial in the second quarter valued at approximately $11,673,000. Citadel Advisors LLC raised its stake in Fulton Financial by 67.2% in the third quarter. Citadel Advisors LLC now owns 1,198,412 shares of the bank’s stock valued at $22,471,000 after purchasing an additional 481,665 shares in the last quarter. Koch Industries Inc. purchased a new stake in Fulton Financial in the second quarter valued at approximately $425,000. Northern Trust Corp raised its stake in Fulton Financial by 10.2% in the second quarter. Northern Trust Corp now owns 4,314,514 shares of the bank’s stock valued at $81,976,000 after purchasing an additional 399,323 shares in the last quarter. Finally, State Street Corp raised its stake in Fulton Financial by 4.0% in the second quarter. State Street Corp now owns 9,239,829 shares of the bank’s stock valued at $175,556,000 after purchasing an additional 353,566 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.
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Fulton Financial Company Profile
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).
