Fulton Financial (NASDAQ:FULT) Upgraded by StockNews.com to Hold Rating

Fulton Financial (NASDAQ:FULT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other research firms have also recently weighed in on FULT. Keefe, Bruyette & Woods upped their price objective on shares of Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a report on Thursday, October 17th. Finally, Stephens raised shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.67.

Fulton Financial Price Performance

NASDAQ FULT traded down $0.05 on Thursday, hitting $20.58. The stock had a trading volume of 1,899,233 shares, compared to its average volume of 1,790,517. The firm has a 50-day moving average of $20.47 and a 200-day moving average of $19.11. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 13.11 and a beta of 0.79. 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 has a 52-week low of $13.87 and a 52-week high of $22.49.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.06. Fulton Financial had a return on equity of 11.78% and a net margin of 15.87%. During the same quarter last year, the business earned $0.42 earnings per share. Equities analysts expect that Fulton Financial will post 1.79 EPS for the current year.

Insider Activity at Fulton Financial

In related news, CEO Curtis J. Myers sold 24,192 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the completion of the sale, the chief executive officer now directly owns 155,946 shares in the company, valued at $3,299,817.36. This represents a 13.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Fulton Financial

A number of large investors have recently bought and sold shares of the stock. Quarry LP bought a new position in shares of Fulton Financial in the third quarter worth approximately $33,000. Coston McIsaac & Partners purchased a new stake in Fulton Financial during the 3rd quarter valued at $54,000. Blue Trust Inc. boosted its position in Fulton Financial by 28.8% during the 3rd quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock valued at $84,000 after buying an additional 1,106 shares during the period. TD Private Client Wealth LLC grew its holdings in Fulton Financial by 11.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock worth $118,000 after acquiring an additional 676 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Fulton Financial by 69.3% in the fourth quarter. KBC Group NV now owns 8,517 shares of the bank’s stock valued at $164,000 after acquiring an additional 3,487 shares during the period. 72.02% of the stock is owned by hedge funds and other 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.