DA Davidson Lowers Fulton Financial (NASDAQ:FULT) Price Target to $17.00

Fulton Financial (NASDAQ:FULTGet Rating) had its price objective decreased by investment analysts at DA Davidson from $18.00 to $17.00 in a research report issued on Thursday, The Fly reports. The firm currently has a “neutral” rating on the bank’s stock. DA Davidson’s price objective points to a potential upside of 8.70% from the company’s current price. DA Davidson also issued estimates for Fulton Financial’s Q1 2023 earnings at $0.48 EPS.

A number of other brokerages have also weighed in on FULT. StockNews.com initiated coverage on Fulton Financial in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Janney Montgomery Scott initiated coverage on Fulton Financial in a report on Tuesday, January 10th. They issued a “neutral” rating and a $19.50 price target on the stock. Finally, Piper Sandler lifted their price target on Fulton Financial to $20.00 in a report on Wednesday, October 5th.

Fulton Financial Trading Up 1.4 %

Shares of NASDAQ FULT opened at $15.64 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $17.26 and a two-hundred day simple moving average of $16.81. The firm has a market cap of $2.62 billion, a PE ratio of 9.96 and a beta of 0.81. Fulton Financial has a twelve month low of $13.72 and a twelve month high of $18.91.

Fulton Financial (NASDAQ:FULTGet Rating) last issued its earnings results on Tuesday, October 18th. The bank reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $278.71 million during the quarter, compared to analyst estimates of $262.15 million. Fulton Financial had a return on equity of 11.82% and a net margin of 26.40%. Analysts expect that Fulton Financial will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Angela M. Snyder sold 4,818 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $18.23, for a total transaction of $87,832.14. Following the transaction, the executive vice president now directly owns 33,246 shares in the company, valued at approximately $606,074.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Angela M. Sargent sold 11,581 shares of the business’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $18.57, for a total transaction of $215,059.17. Following the transaction, the executive vice president now directly owns 70,079 shares in the company, valued at approximately $1,301,367.03. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Angela M. Snyder sold 4,818 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $18.23, for a total value of $87,832.14. Following the transaction, the executive vice president now owns 33,246 shares in the company, valued at $606,074.58. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC grew its stake in Fulton Financial by 455.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,168 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,778 shares during the last quarter. Lazard Asset Management LLC grew its stake in Fulton Financial by 1,554.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,067 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in Fulton Financial during the 3rd quarter valued at about $38,000. Almanack Investment Partners LLC. purchased a new stake in Fulton Financial during the 3rd quarter valued at about $42,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in Fulton Financial during the 3rd quarter valued at about $45,000. 64.84% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Company Profile

(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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