Fulton Financial (NASDAQ:FULT) Raised to “Overweight” at Stephens

Fulton Financial (NASDAQ:FULT) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat.com reports.

A number of other analysts have also weighed in on the stock. Keefe, Bruyette & Woods upped their target price on shares of Fulton Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a research note on Thursday, October 17th. Finally, StockNews.com lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.50.

Fulton Financial Stock Down 0.4 %

Shares of NASDAQ:FULT opened at $20.90 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $3.80 billion, a PE ratio of 13.23 and a beta of 0.77. The firm’s 50-day moving average is $19.51 and its two-hundred day moving average is $18.34. Fulton Financial has a 1 year low of $13.87 and a 1 year high of $22.49.

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

Insider Activity at Fulton Financial

In related news, CEO Curtis J. Myers sold 24,192 shares of the company’s stock in a transaction that occurred on 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 directly owns 155,946 shares of the company’s stock, valued at $3,299,817.36. This represents a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fulton Financial

Large investors have recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Fulton Financial in the third quarter valued at approximately $33,000. Family Firm Inc. acquired a new stake in shares of Fulton Financial in the second quarter valued at approximately $46,000. Coston McIsaac & Partners acquired a new stake in shares of Fulton Financial in the third quarter valued at approximately $54,000. Blue Trust Inc. boosted its holdings in shares of Fulton Financial by 21.9% in the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock valued at $61,000 after acquiring an additional 691 shares during the period. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Fulton Financial by 11.6% in the third 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 period. 72.02% of the stock is 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.