Fulton Financial (NASDAQ:FULT – Get Free Report) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
FULT has been the subject of several other research reports. Stephens reaffirmed an “overweight” rating and issued a $14.50 price target on shares of Fulton Financial in a report on Thursday, July 20th. DA Davidson cut their price target on Fulton Financial from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, April 20th. TheStreet raised Fulton Financial from a “c+” rating to a “b-” rating in a report on Thursday, August 3rd. Finally, Piper Sandler cut their price target on Fulton Financial from $15.00 to $14.00 in a report on Thursday, April 20th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.60.
Get Our Latest Stock Analysis on Fulton Financial
Fulton Financial Price Performance
Fulton Financial (NASDAQ:FULT – Get Free Report) last posted its quarterly earnings results on Wednesday, July 19th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. Fulton Financial had a return on equity of 13.23% and a net margin of 22.57%. The firm had revenue of $375.50 million during the quarter, compared to analysts’ expectations of $270.30 million. During the same quarter last year, the firm earned $0.42 earnings per share. As a group, analysts predict that Fulton Financial will post 1.6 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC boosted its position in shares of Fulton Financial by 347.9% during the first quarter. Lindbrook Capital LLC now owns 1,823 shares of the bank’s stock worth $25,000 after buying an additional 1,416 shares during the period. OLD Point Trust & Financial Services N A purchased a new position in shares of Fulton Financial during the second quarter worth $27,000. Signaturefd LLC boosted its position in shares of Fulton Financial by 55.0% during the fourth quarter. Signaturefd LLC now owns 1,815 shares of the bank’s stock worth $31,000 after buying an additional 644 shares during the period. Lazard Asset Management LLC boosted its position in shares of Fulton Financial by 1,554.1% during the first quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock worth $36,000 after buying an additional 2,067 shares during the period. Finally, US Bancorp DE boosted its position in shares of Fulton Financial by 62.7% during the first quarter. US Bancorp DE now owns 2,694 shares of the bank’s stock worth $37,000 after buying an additional 1,038 shares during the period. 66.31% of the stock is currently owned by hedge funds and other institutional investors.
Fulton Financial Company Profile
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.
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