Fulton Financial (NASDAQ:FULT) Price Target Raised to $24.00

Fulton Financial (NASDAQ:FULT) had its price target hoisted by research analysts at Keefe, Bruyette & Woods from $23.00 to $24.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 16.34% from the company’s current price.

Other equities analysts have also recently issued reports about the company. StockNews.com cut Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Finally, Piper Sandler set a $21.00 target price on Fulton Financial in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.67.

Fulton Financial Trading Down 2.3 %

Fulton Financial stock opened at $20.63 on Thursday. The business has a 50 day moving average price of $20.48 and a two-hundred day moving average price of $19.10. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 13.14 and a beta of 0.79. Fulton Financial has a 12 month low of $13.87 and a 12 month high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a return on equity of 11.78% and a net margin of 15.87%. During the same period in the previous year, the firm posted $0.42 earnings per share. As a group, equities analysts forecast that Fulton Financial will post 1.79 EPS for the current year.

Insider Buying and Selling

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the transaction, the chief executive officer now directly owns 155,946 shares in the company, valued at approximately $3,299,817.36. This trade represents a 13.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FULT. Millennium Management LLC boosted its position in Fulton Financial by 511.1% in the 2nd quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock valued at $55,287,000 after buying an additional 2,723,170 shares during the last quarter. Emerald Advisers LLC boosted its position in Fulton Financial by 213.6% in the 3rd quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock valued at $23,706,000 after buying an additional 890,630 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in Fulton Financial by 272.2% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank’s stock valued at $15,622,000 after buying an additional 630,152 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Fulton Financial by 710.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank’s stock worth $11,880,000 after purchasing an additional 613,272 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Fulton Financial by 4.4% in the 3rd quarter. State Street Corp now owns 10,544,159 shares of the bank’s stock worth $191,166,000 after purchasing an additional 444,219 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors.

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.