Fulton Financial (NASDAQ:FULT) PT Lowered to $18.00 at Jefferies Financial Group

Fulton Financial (NASDAQ:FULT) had its price objective dropped by equities research analysts at Jefferies Financial Group from $18.50 to $18.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Jefferies Financial Group’s price target indicates a potential upside of 8.70% from the company’s current price.

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

Fulton Financial Stock Down 1.4 %

Shares of FULT stock traded down $0.23 during midday trading on Wednesday, reaching $16.56. 252,517 shares of the stock were exchanged, compared to its average volume of 1,407,889. The firm has a market cap of $3.01 billion, a PE ratio of 10.34 and a beta of 0.75. 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 $16.63 and its two-hundred day moving average is $15.99. Fulton Financial has a 1 year low of $11.47 and a 1 year high of $17.68.

Fulton Financial (NASDAQ:FULT) last issued its quarterly 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 analysts’ expectations of $268.90 million. Fulton Financial had a return on equity of 11.73% and a net margin of 18.31%. On average, equities research analysts predict that Fulton Financial will post 1.57 EPS for the current year.

Institutional Trading of Fulton Financial

A number of institutional investors have recently bought and sold shares of FULT. Norges Bank bought a new position in shares of Fulton Financial during the fourth quarter valued at approximately $27,805,000. Hsbc Holdings PLC lifted its position in shares of Fulton Financial by 36.0% during the fourth quarter. Hsbc Holdings PLC now owns 2,593,793 shares of the bank’s stock worth $43,043,000 after purchasing an additional 686,269 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fulton Financial by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock worth $196,188,000 after purchasing an additional 297,923 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Fulton Financial by 16.0% during the third quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock valued at $20,370,000 after purchasing an additional 232,462 shares during the period. Finally, Vanguard Group Inc. increased its stake in Fulton Financial by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock worth $320,061,000 after buying an additional 216,465 shares during the period. 72.02% of the stock is currently owned by institutional investors.

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.