Fulton Financial’s (FULT) “Neutral” Rating Reaffirmed at DA Davidson

Fulton Financial (NASDAQ:FULT)‘s stock had its “neutral” rating restated by equities researchers at DA Davidson in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $20.00 price objective on the bank’s stock. DA Davidson’s target price would indicate a potential upside of 25.94% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Hovde Group increased their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods lifted their target price on Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, January 23rd. Finally, StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Fulton Financial presently has an average rating of “Hold” and a consensus price target of $19.79.

Fulton Financial Price Performance

Shares of Fulton Financial stock opened at $15.88 on Wednesday. The stock’s fifty day moving average is $18.08 and its 200 day moving average is $19.19. The stock has a market cap of $2.89 billion, a P/E ratio of 10.11 and a beta of 0.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial has a one year low of $14.33 and a one year high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. The company had revenue of $322.64 million for the quarter, compared to the consensus estimate of $315.07 million. During the same quarter last year, the company earned $0.40 EPS. Sell-side analysts anticipate that Fulton Financial will post 1.91 earnings per share for the current year.

Insider Buying and Selling at Fulton Financial

In related news, President Angela M. Snyder sold 13,322 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the sale, the president now owns 63,682 shares in the company, valued at $1,317,580.58. This represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in Fulton Financial by 10.3% in the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank’s stock worth $99,000 after purchasing an additional 509 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in Fulton Financial by 0.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 91,464 shares of the bank’s stock valued at $1,763,000 after acquiring an additional 523 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Fulton Financial by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 18,997 shares of the bank’s stock worth $366,000 after purchasing an additional 602 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Fulton Financial by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,303 shares of the bank’s stock valued at $657,000 after buying an additional 684 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Fulton Financial by 57.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock valued at $42,000 after buying an additional 800 shares during the period. 72.02% of the stock is currently owned by institutional investors and hedge funds.

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.