Fulton Financial Corporation’s (FULT) “Hold” Rating Reiterated at Jefferies Group LLC
Fulton Financial Corporation (NASDAQ:FULT)‘s stock had its “hold” rating reiterated by analysts at Jefferies Group LLC in a research report issued on Friday, July 14th. They currently have a $20.00 price target on the bank’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 11.42% from the company’s current price.
FULT has been the topic of several other research reports. Barclays PLC restated a “sell” rating and issued a $18.00 target price (up previously from $17.00) on shares of Fulton Financial Corporation in a research report on Friday, April 21st. BidaskClub upgraded Fulton Financial Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. ValuEngine upgraded Fulton Financial Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. Keefe, Bruyette & Woods set a $17.00 target price on Fulton Financial Corporation and gave the company a “hold” rating in a research report on Monday, April 10th. Finally, Stephens started coverage on Fulton Financial Corporation in a research report on Thursday, July 13th. They set an “equal weight” rating on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.33.
Shares of Fulton Financial Corporation (FULT) opened at 17.95 on Friday. Fulton Financial Corporation has a one year low of $13.59 and a one year high of $19.90. The stock has a market capitalization of $3.14 billion, a PE ratio of 18.13 and a beta of 1.16. The stock’s 50 day moving average price is $18.64 and its 200 day moving average price is $18.37.
Fulton Financial Corporation (NASDAQ:FULT) last released its earnings results on Tuesday, July 18th. The bank reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $193.93 million for the quarter, compared to the consensus estimate of $194.02 million. Fulton Financial Corporation had a return on equity of 8.02% and a net margin of 20.86%. During the same quarter last year, the business posted $0.23 earnings per share. Equities research analysts predict that Fulton Financial Corporation will post $1.06 EPS for the current fiscal year.
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In related news, Director R Scott Smith, Jr. sold 5,539 shares of Fulton Financial Corporation stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $18.35, for a total transaction of $101,640.65. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Craig A. Roda sold 19,309 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $18.42, for a total value of $355,671.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,348 shares of company stock worth $484,312. 0.68% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Fulton Financial Corporation by 64.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,202 shares of the bank’s stock valued at $129,000 after buying an additional 2,824 shares during the period. River Wealth Advisors LLC acquired a new stake in Fulton Financial Corporation during the first quarter valued at about $182,000. Capital Fund Management S.A. acquired a new stake in Fulton Financial Corporation during the first quarter valued at about $184,000. Jane Street Group LLC acquired a new stake in Fulton Financial Corporation during the first quarter valued at about $184,000. Finally, Invictus RG acquired a new stake in Fulton Financial Corporation during the first quarter valued at about $186,000. 62.08% of the stock is owned by institutional investors.
About Fulton Financial Corporation
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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