Analysts Set Fulton Financial Co. (NASDAQ:FULT) Target Price at $19.50

Shares of Fulton Financial Co. (NASDAQ:FULT) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $19.50.

Several brokerages have recently issued reports on FULT. Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. StockNews.com lowered Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Piper Sandler set a $21.00 target price on Fulton Financial in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised their target price on Fulton Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Fulton Financial Trading Up 0.9 %

NASDAQ FULT opened at $21.12 on Friday. The firm has a market capitalization of $3.84 billion, a P/E ratio of 13.37 and a beta of 0.78. The business has a fifty day simple moving average of $19.82 and a 200 day simple moving average of $18.46. Fulton Financial has a 12 month low of $13.87 and a 12 month high of $22.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $487.33 million during the quarter, compared to analyst estimates of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same period in the prior year, the firm posted $0.43 EPS. On average, analysts predict that Fulton Financial will post 1.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the transaction, the chief executive officer now owns 155,946 shares in the company, valued at $3,299,817.36. This trade represents a 13.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.07% of the stock is owned by corporate insiders.

Institutional Trading of Fulton Financial

A number of large investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB boosted its position in shares of Fulton Financial by 52.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 31,500 shares of the bank’s stock valued at $571,000 after acquiring an additional 10,773 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of Fulton Financial by 11.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after acquiring an additional 676 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Fulton Financial by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank’s stock valued at $79,264,000 after acquiring an additional 85,574 shares during the last quarter. Barclays PLC boosted its position in shares of Fulton Financial by 79.4% during the 3rd quarter. Barclays PLC now owns 420,636 shares of the bank’s stock valued at $7,626,000 after acquiring an additional 186,215 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Fulton Financial during the 3rd quarter valued at about $1,784,000. 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.