Fulton Financial (NASDAQ:FULT) Rating Reiterated by Stephens

Fulton Financial (NASDAQ:FULT)‘s stock had its “equal weight” rating restated by equities researchers at Stephens in a report issued on Wednesday, Benzinga reports. They presently have a $16.00 target price on the bank’s stock. Stephens’ target price points to a potential upside of 10.42% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Jefferies Financial Group lowered their price target on Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, April 8th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods upped their price target on Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a report on Thursday, January 18th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Fulton Financial presently has an average rating of “Hold” and an average target price of $15.40.

Fulton Financial Stock Up 0.3 %

Shares of Fulton Financial stock traded up $0.04 on Wednesday, reaching $14.49. The company’s stock had a trading volume of 1,541,878 shares, compared to its average volume of 1,102,051. Fulton Financial has a 52 week low of $9.64 and a 52 week high of $17.06. The firm’s fifty day simple moving average is $15.34 and its two-hundred day simple moving average is $14.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 8.88 and a beta of 0.81.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings results on Wednesday, January 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $271.38 million for the quarter, compared to the consensus estimate of $268.70 million. Fulton Financial had a return on equity of 12.01% and a net margin of 18.94%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. Equities analysts anticipate that Fulton Financial will post 1.52 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Fulton Financial by 6.0% in the first quarter. BlackRock Inc. now owns 21,821,468 shares of the bank’s stock worth $362,670,000 after buying an additional 1,232,379 shares in the last quarter. Vanguard Group Inc. increased its position in Fulton Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock worth $320,061,000 after buying an additional 216,465 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Fulton Financial by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock worth $196,188,000 after buying an additional 297,923 shares in the last quarter. State Street Corp increased its position in Fulton Financial by 8.9% in the first quarter. State Street Corp now owns 8,941,860 shares of the bank’s stock worth $149,945,000 after buying an additional 731,995 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Fulton Financial by 1.8% in the second quarter. Geode Capital Management LLC now owns 3,375,026 shares of the bank’s stock worth $40,230,000 after buying an additional 59,775 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

About Fulton Financial

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.