Fulton Financial (NASDAQ:FULT) Price Target Raised to $22.00 at DA Davidson

Fulton Financial (NASDAQ:FULT) had its target price increased by analysts at DA Davidson from $21.00 to $22.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. DA Davidson’s target price points to a potential upside of 7.92% from the stock’s current price.

Several other research firms have also recently commented on FULT. Keefe, Bruyette & Woods raised their target price on Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Piper Sandler set a $21.00 price target on Fulton Financial in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.33.

Fulton Financial Stock Down 0.9 %

NASDAQ:FULT opened at $20.39 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.93. Fulton Financial has a one year low of $13.87 and a one year high of $22.49. The firm’s 50 day simple moving average is $20.47 and its 200 day simple moving average is $19.11. The company has a market cap of $3.71 billion, a PE ratio of 13.04 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period in the prior year, the business earned $0.42 earnings per share. On average, research analysts anticipate that Fulton Financial will post 1.79 earnings per share for the current year.

Insider Activity at Fulton Financial

In related news, CEO Curtis J. Myers sold 24,192 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction of $511,902.72. Following the transaction, the chief executive officer now directly owns 155,946 shares of the company’s stock, valued at $3,299,817.36. This trade represents a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Fulton Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Fulton Financial by 10.3% in the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank’s stock worth $99,000 after buying an additional 509 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Fulton Financial by 11.6% in the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after acquiring an additional 676 shares during the last quarter. Olympiad Research LP raised its holdings in shares of Fulton Financial by 13.5% in the 3rd quarter. Olympiad Research LP now owns 13,418 shares of the bank’s stock worth $243,000 after purchasing an additional 1,594 shares during the period. Quarry LP purchased a new position in Fulton Financial in the third quarter valued at approximately $33,000. Finally, Profund Advisors LLC lifted its stake in Fulton Financial by 14.1% in the second quarter. Profund Advisors LLC now owns 16,048 shares of the bank’s stock valued at $272,000 after purchasing an additional 1,983 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

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.