Piper Sandler Lowers Fulton Financial (NASDAQ:FULT) Price Target to $20.00

Fulton Financial (NASDAQ:FULT) had its price objective cut by stock analysts at Piper Sandler from $22.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price suggests a potential upside of 25.20% from the company’s previous close.

A number of other analysts have also weighed in on FULT. DA Davidson restated a “neutral” rating and set a $20.00 target price on shares of Fulton Financial in a report on Wednesday. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price target on shares of Fulton Financial from $24.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, Hovde Group lifted their price objective on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.79.

Fulton Financial Trading Up 0.0 %

Shares of NASDAQ:FULT traded up $0.00 during trading on Thursday, reaching $15.97. 967,617 shares of the company were exchanged, compared to its average volume of 1,548,678. The business’s fifty day simple moving average is $18.17 and its 200-day simple moving average is $19.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. Fulton Financial has a 12-month low of $13.87 and a 12-month high of $22.49. The firm has a market capitalization of $2.91 billion, a PE ratio of 10.14 and a beta of 0.68.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The business had revenue of $322.64 million during the quarter, compared to analyst estimates of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period in the previous year, the company posted $0.40 EPS. On average, research analysts anticipate that Fulton Financial will post 1.91 EPS for the current year.

Insider Buying and Selling

In other news, President Angela M. Snyder sold 13,322 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the transaction, the president now directly owns 63,682 shares in the company, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fulton Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp boosted its holdings in shares of Fulton Financial by 193.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock valued at $25,000 after acquiring an additional 853 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Fulton Financial by 57.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock valued at $42,000 after purchasing an additional 800 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Fulton Financial during the 4th quarter worth about $44,000. GAMMA Investing LLC raised its stake in shares of Fulton Financial by 42.2% during the 1st quarter. GAMMA Investing LLC now owns 3,072 shares of the bank’s stock valued at $56,000 after buying an additional 911 shares during the last quarter. Finally, Byrne Asset Management LLC lifted its holdings in shares of Fulton Financial by 114.5% in the 1st quarter. Byrne Asset Management LLC now owns 3,217 shares of the bank’s stock valued at $58,000 after buying an additional 1,717 shares during the period. 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.