Jefferies Financial Group Lowers Fulton Financial (NASDAQ:FULT) Price Target to $18.00

Fulton Financial (NASDAQ:FULT) had its price target dropped by stock analysts at Jefferies Financial Group from $18.50 to $18.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 9.76% from the stock’s current price.

Several other analysts also recently weighed in on the stock. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods upped their price objective on shares of Fulton Financial from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Tuesday, April 30th. DA Davidson increased their price target on shares of Fulton Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, April 30th. Janney Montgomery Scott raised shares of Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price target on the stock in a report on Monday, April 29th. Finally, Stephens upped their price objective on shares of Fulton Financial from $15.50 to $17.50 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.40.

Fulton Financial Stock Down 2.3 %

NASDAQ:FULT opened at $16.40 on Wednesday. The company has a market cap of $2.98 billion, a PE ratio of 10.19 and a beta of 0.75. Fulton Financial has a twelve month low of $11.47 and a twelve month high of $17.68. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $16.67 and its two-hundred day moving average is $16.00.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, April 16th. The bank reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. The company had revenue of $230.36 million for the quarter, compared to the consensus estimate of $268.90 million. Fulton Financial had a net margin of 18.31% and a return on equity of 11.73%. Analysts anticipate that Fulton Financial will post 1.57 EPS for the current year.

Institutional Investors Weigh In On Fulton Financial

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its position in Fulton Financial by 82.8% during the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after purchasing an additional 781 shares during the last quarter. SRS Capital Advisors Inc. increased its position in Fulton Financial by 0.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 93,045 shares of the bank’s stock worth $1,532,000 after purchasing an additional 872 shares during the last quarter. AlphaMark Advisors LLC increased its position in Fulton Financial by 5.3% during the fourth quarter. AlphaMark Advisors LLC now owns 19,714 shares of the bank’s stock worth $324,000 after purchasing an additional 993 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Fulton Financial by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 143,357 shares of the bank’s stock worth $2,278,000 after purchasing an additional 1,538 shares during the last quarter. Finally, Morton Brown Family Wealth LLC acquired a new stake in Fulton Financial during the fourth quarter worth about $26,000. 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.