Fulton Financial (NASDAQ:FULT) Stock Rating Upgraded by Stephens

Fulton Financial (NASDAQ:FULTGet Rating) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report released on Thursday, The Fly reports.

A number of other analysts also recently weighed in on the company. StockNews.com assumed coverage on Fulton Financial in a research report on Thursday, March 31st. They set a “hold” rating for the company. DA Davidson upped their target price on Fulton Financial from $16.00 to $20.00 in a research report on Thursday, January 20th. Finally, Zacks Investment Research upgraded Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Friday, April 1st.

FULT opened at $16.40 on Thursday. The business has a fifty day simple moving average of $17.22 and a 200 day simple moving average of $17.10. The company has a market capitalization of $2.63 billion, a PE ratio of 10.06 and a beta of 0.73. Fulton Financial has a 1 year low of $14.16 and a 1 year high of $19.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.90 and a quick ratio of 0.90.

Fulton Financial (NASDAQ:FULTGet Rating) last released its quarterly earnings results on Tuesday, April 19th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.06. Fulton Financial had a return on equity of 11.06% and a net margin of 27.63%. During the same period in the prior year, the firm posted $0.43 earnings per share. Equities analysts anticipate that Fulton Financial will post 1.49 earnings per share for the current fiscal year.

In related news, EVP Angela M. Sargent sold 10,823 shares of the company’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $17.20, for a total transaction of $186,155.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its position in shares of Fulton Financial by 44.6% during the 4th quarter. Signaturefd LLC now owns 1,953 shares of the bank’s stock worth $33,000 after buying an additional 602 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Fulton Financial in the 4th quarter worth about $45,000. SouthState Corp acquired a new position in Fulton Financial in the 3rd quarter worth about $61,000. Blue Bell Private Wealth Management LLC acquired a new position in Fulton Financial in the 4th quarter worth about $62,000. Finally, Point72 Hong Kong Ltd acquired a new position in Fulton Financial in the 4th quarter worth about $108,000. Institutional investors and hedge funds own 62.82% of the company’s stock.

About Fulton Financial (Get Rating)

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers secured consumer loans, including home equity loans and lines of credit, automobile loans, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial real estate, commercial and industrial, and construction loans, as well as equipment lease financing loans.

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