Fulton Financial (FULT) PT Raised to $19.00 at Barclays

Fulton Financial (NASDAQ:FULT) had its target price raised by research analysts at Barclays from $18.00 to $19.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has an “underweight” rating on the bank’s stock. Barclays’ price objective suggests a potential upside of 5.85% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Piper Jaffray Companies reiterated a “hold” rating and set a $18.00 price target on shares of Fulton Financial in a research report on Thursday, October 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $17.00 price target on shares of Fulton Financial in a research report on Thursday, October 19th. Zacks Investment Research upgraded Fulton Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Wednesday, September 20th. BidaskClub downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 9th. Finally, Jefferies Group reiterated a “hold” rating and set a $20.00 price target on shares of Fulton Financial in a research report on Friday, September 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Fulton Financial presently has a consensus rating of “Hold” and a consensus target price of $18.80.

Fulton Financial (FULT) traded up $0.05 during mid-day trading on Tuesday, reaching $17.95. The company’s stock had a trading volume of 861,100 shares, compared to its average volume of 837,100. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3,134.68, a price-to-earnings ratio of 17.43 and a beta of 1.17. Fulton Financial has a 1-year low of $16.45 and a 1-year high of $19.90.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, October 17th. The bank reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. The business had revenue of $194.19 million during the quarter, compared to analyst estimates of $200.00 million. Fulton Financial had a return on equity of 8.28% and a net margin of 21.15%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. sell-side analysts expect that Fulton Financial will post 1.03 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. lifted its position in Fulton Financial by 1.2% in the 3rd quarter. Prudential Financial Inc. now owns 909,943 shares of the bank’s stock worth $17,061,000 after buying an additional 10,730 shares during the last quarter. American International Group Inc. lifted its position in Fulton Financial by 2.8% in the third quarter. American International Group Inc. now owns 472,913 shares of the bank’s stock valued at $8,867,000 after purchasing an additional 12,812 shares during the last quarter. RKL Wealth Management LLC lifted its position in Fulton Financial by 13.2% in the third quarter. RKL Wealth Management LLC now owns 57,300 shares of the bank’s stock valued at $1,074,000 after purchasing an additional 6,661 shares during the last quarter. Legacy Advisors LLC bought a new stake in Fulton Financial in the third quarter valued at approximately $4,641,000. Finally, Flinton Capital Management LLC lifted its position in Fulton Financial by 52.6% in the second quarter. Flinton Capital Management LLC now owns 15,596 shares of the bank’s stock valued at $296,000 after purchasing an additional 5,376 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

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Fulton Financial Company Profile

Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).

Analyst Recommendations for Fulton Financial (NASDAQ:FULT)

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