Keefe, Bruyette & Woods Boosts Fulton Financial (NASDAQ:FULT) Price Target to $23.00

Fulton Financial (NASDAQ:FULT) had its price objective hoisted by analysts at Keefe, Bruyette & Woods from $20.00 to $23.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 9.21% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. StockNews.com lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.50.

Fulton Financial Stock Down 0.1 %

Shares of NASDAQ FULT traded down $0.02 during midday trading on Wednesday, hitting $21.06. 236,789 shares of the stock traded hands, compared to its average volume of 1,455,914. Fulton Financial has a one year low of $13.87 and a one year high of $22.49. The business has a 50 day moving average price of $19.19 and a two-hundred day moving average price of $18.19. The company has a market cap of $3.83 billion, a PE ratio of 13.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. The firm had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. During the same period in the prior year, the firm posted $0.43 earnings per share. On average, equities analysts predict that Fulton Financial will post 1.74 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp grew its holdings in Fulton Financial by 4.4% during the 3rd quarter. State Street Corp now owns 10,544,159 shares of the bank’s stock worth $191,166,000 after acquiring an additional 444,219 shares during the period. Geode Capital Management LLC raised its holdings in shares of Fulton Financial by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank’s stock valued at $79,264,000 after purchasing an additional 85,574 shares during the last quarter. Millennium Management LLC increased its position in shares of Fulton Financial by 511.1% in the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank’s stock valued at $55,287,000 after acquiring an additional 2,723,170 shares during the last quarter. American Century Companies Inc. increased its holdings in Fulton Financial by 18.6% during the second quarter. American Century Companies Inc. now owns 3,022,534 shares of the bank’s stock worth $51,323,000 after buying an additional 474,099 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Fulton Financial by 28.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,542,068 shares of the bank’s stock worth $43,164,000 after acquiring an additional 567,771 shares during the last quarter. 72.02% of the stock is owned by 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.