BidaskClub Downgrades Fulton Financial (NASDAQ:FULT) to Hold

Fulton Financial (NASDAQ:FULT) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, BidAskClub reports.

FULT has been the topic of a number of other reports. ValuEngine downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Zacks Investment Research upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Boenning Scattergood restated a “hold” rating on shares of Fulton Financial in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Fulton Financial has a consensus rating of “Hold” and an average price target of $18.83.

NASDAQ:FULT opened at $17.33 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.91 billion, a P/E ratio of 12.69 and a beta of 1.02. Fulton Financial has a 12 month low of $14.38 and a 12 month high of $17.86. The business’s 50-day moving average is $16.57 and its 200 day moving average is $16.42.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Fulton Financial had a return on equity of 10.31% and a net margin of 22.88%. The business had revenue of $221.07 million for the quarter, compared to the consensus estimate of $222.21 million. During the same period in the prior year, the business posted $0.37 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts forecast that Fulton Financial will post 1.41 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. NumerixS Investment Technologies Inc purchased a new stake in shares of Fulton Financial in the second quarter worth approximately $25,000. Advisory Services Network LLC raised its holdings in shares of Fulton Financial by 34.9% in the second quarter. Advisory Services Network LLC now owns 2,418 shares of the bank’s stock worth $40,000 after buying an additional 625 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Fulton Financial in the second quarter worth approximately $62,000. Tower Research Capital LLC TRC raised its holdings in shares of Fulton Financial by 225.1% in the third quarter. Tower Research Capital LLC TRC now owns 6,190 shares of the bank’s stock worth $100,000 after buying an additional 4,286 shares during the period. Finally, CWM LLC raised its holdings in shares of Fulton Financial by 8.3% in the second quarter. CWM LLC now owns 8,722 shares of the bank’s stock worth $143,000 after buying an additional 667 shares during the period. Institutional investors and hedge funds own 64.87% of the company’s stock.

About Fulton Financial

Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.

Featured Story: What is a Roth IRA?

Receive News & Ratings for Fulton Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fulton Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit