Fulton Financial Corporation (FULT) Given “Hold” Rating at Keefe, Bruyette & Woods
Fulton Financial Corporation (NASDAQ:FULT)‘s stock had its “hold” rating reaffirmed by investment analysts at Keefe, Bruyette & Woods in a research note issued on Tuesday. They currently have a $17.50 price target on the bank’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 7.65% from the stock’s current price.
FULT has been the subject of a number of other research reports. BidaskClub lowered Fulton Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research cut shares of Fulton Financial Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. ValuEngine raised shares of Fulton Financial Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial Corporation in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $20.00 price target on shares of Fulton Financial Corporation in a report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Fulton Financial Corporation presently has a consensus rating of “Hold” and an average price target of $18.25.
Fulton Financial Corporation (NASDAQ:FULT) traded down 0.26% during midday trading on Tuesday, hitting $18.95. 890,179 shares of the stock were exchanged. The company’s 50 day moving average is $17.67 and its 200-day moving average is $18.06. 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.
Fulton Financial Corporation (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, July 18th. The bank reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The business had revenue of $193.93 million for the quarter, compared to analyst estimates of $194.02 million. Fulton Financial Corporation had a return on equity of 8.02% and a net margin of 20.86%. During the same period last year, the company earned $0.23 EPS. On average, analysts expect that Fulton Financial Corporation will post $1.06 earnings per share for the current year.
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In other news, insider Craig A. Roda sold 19,309 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $18.42, for a total value of $355,671.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Deporter sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $18.00, for a total transaction of $27,000.00. The disclosure for this sale can be found here. Insiders have sold 26,348 shares of company stock worth $484,312 over the last three months. Insiders own 0.68% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Fulton Financial Corporation by 64.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,202 shares of the bank’s stock worth $129,000 after buying an additional 2,824 shares in the last quarter. Advisor Group Inc. boosted its position in Fulton Financial Corporation by 5.3% during the 2nd quarter. Advisor Group Inc. now owns 8,336 shares of the bank’s stock valued at $158,000 after acquiring an additional 417 shares in the last quarter. Riverhead Capital Management LLC boosted its position in Fulton Financial Corporation by 56.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 9,985 shares of the bank’s stock valued at $190,000 after acquiring an additional 3,585 shares in the last quarter. River Wealth Advisors LLC purchased a new position in shares of Fulton Financial Corporation during the 1st quarter worth approximately $182,000. Finally, Jane Street Group LLC purchased a new position in shares of Fulton Financial Corporation during the 1st quarter worth approximately $184,000. 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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