Fulton Financial (NASDAQ:FULT) Stock Rating Reaffirmed by Stephens

Fulton Financial (NASDAQ:FULT)‘s stock had its “equal weight” rating restated by research analysts at Stephens in a note issued to investors on Wednesday, Benzinga reports. They presently have a $16.00 price objective on the bank’s stock. Stephens’ price target would indicate a potential upside of 10.88% from the company’s previous close.

Several other research firms have also recently weighed in on FULT. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Keefe, Bruyette & Woods lifted their price objective on shares of Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a report on Thursday, January 18th. Finally, Jefferies Financial Group cut their price objective on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.30.

Fulton Financial Stock Performance

Shares of FULT opened at $14.43 on Wednesday. The firm has a market cap of $2.34 billion, a P/E ratio of 8.96 and a beta of 0.81. Fulton Financial has a twelve month low of $9.64 and a twelve month high of $17.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50 day moving average price is $15.31 and its two-hundred day moving average price is $14.88.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Wednesday, January 17th. The bank reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $271.38 million for the quarter, compared to analysts’ expectations of $268.70 million. Fulton Financial had a net margin of 18.31% and a return on equity of 11.85%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 EPS. On average, analysts forecast that Fulton Financial will post 1.52 EPS for the current fiscal year.

Institutional Trading of Fulton Financial

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Fulton Financial by 6.0% in the 1st quarter. BlackRock Inc. now owns 21,821,468 shares of the bank’s stock valued at $362,670,000 after purchasing an additional 1,232,379 shares during the period. Vanguard Group Inc. raised its stake in Fulton Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock valued at $320,061,000 after buying an additional 216,465 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Fulton Financial by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock valued at $196,188,000 after buying an additional 297,923 shares during the last quarter. State Street Corp boosted its stake in shares of Fulton Financial by 8.9% during the 1st quarter. State Street Corp now owns 8,941,860 shares of the bank’s stock worth $149,945,000 after acquiring an additional 731,995 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Fulton Financial by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,375,026 shares of the bank’s stock worth $40,230,000 after acquiring an additional 59,775 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.