Fulton Financial (NASDAQ:FULT) Price Target Cut to $18.00 by Analysts at Jefferies Financial Group

Fulton Financial (NASDAQ:FULT) had its price objective decreased by investment analysts at Jefferies Financial Group from $18.50 to $18.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the bank’s stock. Jefferies Financial Group’s target price points to a potential upside of 8.70% from the stock’s current price.

FULT has been the subject of several other research reports. Janney Montgomery Scott raised Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price target for the company in a research note on Monday, April 29th. Stephens increased their target price on shares of Fulton Financial from $15.50 to $17.50 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Keefe, Bruyette & Woods boosted their price target on shares of Fulton Financial from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 30th. DA Davidson increased their price objective on shares of Fulton Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. Finally, StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.40.

Fulton Financial Trading Down 1.4 %

Shares of NASDAQ:FULT traded down $0.23 during midday trading on Wednesday, hitting $16.56. 252,517 shares of the stock were exchanged, compared to its average volume of 1,407,889. Fulton Financial has a 12 month low of $11.47 and a 12 month high of $17.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 10.34 and a beta of 0.75. The business’s 50-day moving average price is $16.63 and its 200 day moving average price is $15.99.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $230.36 million for the quarter, compared to analyst estimates of $268.90 million. Fulton Financial had a net margin of 18.31% and a return on equity of 11.73%. Analysts predict that Fulton Financial will post 1.57 earnings per share for the current year.

Institutional Investors Weigh In On Fulton Financial

A number of hedge funds have recently added to or reduced their stakes in FULT. Blue Trust Inc. lifted its holdings in shares of Fulton Financial by 82.8% in the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after purchasing an additional 781 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of Fulton Financial by 0.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 93,045 shares of the bank’s stock worth $1,532,000 after acquiring an additional 872 shares in the last quarter. AlphaMark Advisors LLC increased its position in shares of Fulton Financial by 5.3% during the fourth quarter. AlphaMark Advisors LLC now owns 19,714 shares of the bank’s stock worth $324,000 after acquiring an additional 993 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Fulton Financial by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 143,357 shares of the bank’s stock worth $2,278,000 after acquiring an additional 1,538 shares during the last quarter. Finally, Morton Brown Family Wealth LLC bought a new position in Fulton Financial in the 4th quarter valued at about $26,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

About Fulton Financial

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.