Fulton Financial (NASDAQ:FULT) PT Lowered to $16.00 at Jefferies Financial Group

Fulton Financial (NASDAQ:FULT) had its target price lowered by equities research analysts at Jefferies Financial Group from $17.00 to $16.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Jefferies Financial Group’s target price points to a potential upside of 1.72% from the stock’s previous close.

Other analysts have also issued research reports about the stock. StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Stephens reaffirmed an “equal weight” rating and issued a $16.00 price target on shares of Fulton Financial in a research note on Wednesday, January 17th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Fulton Financial from $16.00 to $17.00 and gave the stock a “market perform” rating in a research report on Thursday, January 18th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.40.

Fulton Financial Price Performance

FULT stock opened at $15.73 on Monday. 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’s fifty day simple moving average is $15.40 and its 200 day simple moving average is $14.79. Fulton Financial has a 12-month low of $9.64 and a 12-month high of $17.06. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 9.59 and a beta of 0.81.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data 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. Fulton Financial had a return on equity of 12.01% and a net margin of 18.94%. The company had revenue of $271.38 million for the quarter, compared to the consensus estimate of $268.70 million. During the same period in the previous year, the business earned $0.48 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, analysts expect that Fulton Financial will post 1.51 earnings per share for the current year.

Institutional Investors Weigh In On Fulton Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Morton Brown Family Wealth LLC bought a new stake in Fulton Financial during the 4th quarter worth approximately $26,000. DT Investment Partners LLC raised its position in Fulton Financial by 576.4% in the 2nd quarter. DT Investment Partners LLC now owns 2,347 shares of the bank’s stock valued at $28,000 after buying an additional 2,000 shares during the last quarter. Blue Trust Inc. lifted its stake in Fulton Financial by 82.8% during the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock valued at $28,000 after acquiring an additional 781 shares in the last quarter. Strs Ohio purchased a new position in Fulton Financial during the 4th quarter worth $29,000. Finally, Disciplined Equity Management Inc. purchased a new position in Fulton Financial during the 4th quarter worth $32,000. Institutional investors and hedge funds 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.