Fulton Financial (NASDAQ:FULT) PT Lowered to $15.50 at Stephens

Fulton Financial (NASDAQ:FULT) had its target price lowered by stock analysts at Stephens from $16.00 to $15.50 in a report released on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Stephens’ price target suggests a potential upside of 6.53% from the company’s previous close.

A number of other analysts also recently weighed in on FULT. Jefferies Financial Group decreased their price target on Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods boosted their target price on Fulton Financial from $16.00 to $17.00 and gave the stock a “market perform” rating in a research report on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.30.

Fulton Financial Stock Up 0.4 %

Shares of NASDAQ FULT traded up $0.06 during midday trading on Thursday, hitting $14.55. 400,709 shares of the company’s stock were exchanged, compared to its average volume of 1,098,262. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.95. Fulton Financial has a twelve month low of $9.64 and a twelve month high of $17.06. The company has a market cap of $2.36 billion, a PE ratio of 9.03 and a beta of 0.81. The firm’s fifty day simple moving average is $15.33 and its 200-day simple moving average is $14.88.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Wednesday, January 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $271.38 million for the quarter, compared to analyst estimates of $268.70 million. Fulton Financial had a return on equity of 11.85% and a net margin of 18.31%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share. Research analysts predict that Fulton Financial will post 1.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulton Financial

Institutional investors have recently added to or reduced their stakes in the business. Morton Brown Family Wealth LLC acquired a new position in Fulton Financial in the fourth quarter valued at $26,000. Blue Trust Inc. increased its stake in Fulton Financial by 82.8% during the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after acquiring an additional 781 shares during the last quarter. Strs Ohio acquired a new stake in Fulton Financial during the fourth quarter worth about $29,000. Disciplined Equity Management Inc. acquired a new stake in Fulton Financial during the fourth quarter worth about $32,000. Finally, Lazard Asset Management LLC increased its stake in Fulton Financial by 1,554.1% during the first quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock worth $36,000 after acquiring an additional 2,067 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

About Fulton Financial

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.