DA Davidson Upgrades Fulton Financial (NASDAQ:FULT) to “Hold”

Fulton Financial (NASDAQ:FULT) was upgraded by research analysts at DA Davidson to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on FULT. Keefe, Bruyette & Woods boosted their price target on shares of Fulton Financial from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of Fulton Financial in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.50.

Fulton Financial Stock Up 0.3%

NASDAQ FULT opened at $21.23 on Tuesday. Fulton Financial has a 12 month low of $14.32 and a 12 month high of $22.99. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.83 billion, a PE ratio of 10.21 and a beta of 0.86. The stock’s 50 day moving average is $20.72 and its 200 day moving average is $19.29.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. Fulton Financial had a net margin of 20.68% and a return on equity of 12.59%. The firm had revenue of $336.02 million for the quarter, compared to analysts’ expectations of $336.80 million. During the same quarter last year, the business posted $0.48 earnings per share. Research analysts predict that Fulton Financial will post 1.91 EPS for the current fiscal year.

Fulton Financial declared that its board has authorized a stock buyback plan on Tuesday, December 16th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $19.55, for a total value of $97,750.00. Following the completion of the sale, the director directly owned 85,477 shares in the company, valued at $1,671,075.35. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fulton Financial

Several institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new stake in Fulton Financial in the 4th quarter worth about $25,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Fulton Financial during the fourth quarter valued at approximately $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Fulton Financial in the fourth quarter worth approximately $28,000. Torren Management LLC purchased a new stake in shares of Fulton Financial in the fourth quarter worth approximately $28,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Fulton Financial by 373.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the bank’s stock worth $30,000 after acquiring an additional 1,311 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.