Fulton Financial (NASDAQ:FULT) Upgraded by StockNews.com to Hold

Fulton Financial (NASDAQ:FULT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

FULT has been the subject of several other research reports. Jefferies Financial Group decreased their price objective on Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Fulton Financial from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Tuesday, April 30th. Stephens raised their price objective on shares of Fulton Financial from $15.50 to $17.50 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. DA Davidson raised their price target on shares of Fulton Financial from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, April 30th. Finally, Janney Montgomery Scott raised Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price objective for the company in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.40.

Fulton Financial Trading Down 2.1 %

Shares of FULT stock traded down $0.42 during trading hours on Thursday, hitting $19.23. 4,721,456 shares of the company were exchanged, compared to its average volume of 1,488,535. The firm has a market cap of $3.50 billion, a P/E ratio of 11.94 and a beta of 0.75. Fulton Financial has a fifty-two week low of $11.63 and a fifty-two week high of $20.01. The company has a 50 day simple moving average of $16.83 and a two-hundred day simple moving average of $16.07. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 0.93.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, July 16th. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.22. The firm had revenue of $334.71 million for the quarter, compared to analyst estimates of $296.38 million. Fulton Financial had a net margin of 17.93% and a return on equity of 11.75%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities analysts anticipate that Fulton Financial will post 1.57 EPS for the current year.

Hedge Funds Weigh In On Fulton Financial

Several institutional investors have recently bought and sold shares of FULT. Blue Trust Inc. increased its position in Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after buying an additional 691 shares during the last quarter. Atwater Malick LLC bought a new position in shares of Fulton Financial during the 2nd quarter worth $175,000. AlphaMark Advisors LLC bought a new position in shares of Fulton Financial during the 2nd quarter worth $308,000. QRG Capital Management Inc. increased its holdings in Fulton Financial by 16.5% in the 2nd quarter. QRG Capital Management Inc. now owns 86,892 shares of the bank’s stock worth $1,475,000 after acquiring an additional 12,311 shares during the last quarter. Finally, Fulton Bank N.A. raised its stake in Fulton Financial by 0.9% in the 2nd quarter. Fulton Bank N.A. now owns 2,057,813 shares of the bank’s stock valued at $34,942,000 after acquiring an additional 17,955 shares during the period. Hedge funds and other institutional investors 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.