Fulton Financial (NASDAQ:FULT) Stock Rating Lowered by BidaskClub

Fulton Financial (NASDAQ:FULT) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday, BidAskClub reports.

Several other research firms also recently weighed in on FULT. ValuEngine downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Boenning Scattergood reiterated a “hold” rating on shares of Fulton Financial in a research note on Wednesday, July 17th. Finally, Zacks Investment Research upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Fulton Financial has a consensus rating of “Hold” and a consensus price target of $18.83.

Shares of FULT stock traded up $0.22 on Friday, hitting $15.83. 450,685 shares of the stock were exchanged, compared to its average volume of 748,182. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $2.59 billion, a PE ratio of 11.30 and a beta of 1.02. Fulton Financial has a one year low of $14.38 and a one year high of $17.60. The firm’s 50 day moving average is $16.04 and its two-hundred day moving average is $16.29.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, July 16th. The bank reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $221.94 million during the quarter, compared to the consensus estimate of $218.51 million. Fulton Financial had a return on equity of 10.51% and a net margin of 23.75%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 EPS. On average, sell-side analysts expect that Fulton Financial will post 1.39 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. NumerixS Investment Technologies Inc bought a new position in Fulton Financial in the 2nd quarter worth about $25,000. Advisory Services Network LLC boosted its stake in Fulton Financial by 34.9% in the 2nd quarter. Advisory Services Network LLC now owns 2,418 shares of the bank’s stock worth $40,000 after purchasing an additional 625 shares during the period. Meeder Asset Management Inc. bought a new position in Fulton Financial in the 2nd quarter worth about $62,000. CWM LLC boosted its stake in Fulton Financial by 8.3% in the 2nd quarter. CWM LLC now owns 8,722 shares of the bank’s stock worth $143,000 after purchasing an additional 667 shares during the period. Finally, Quantamental Technologies LLC bought a new position in Fulton Financial in the 2nd quarter worth about $166,000. Institutional investors own 64.70% of the company’s stock.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.

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