Fulton Financial (NASDAQ:FULT) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Fulton Financial (NASDAQ:FULT - Get Free Report) had its target price upped by equities researchers at Keefe, Bruyette & Woods from $23.00 to $24.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 16.62% from the stock's previous close.

A number of other brokerages also recently weighed in on FULT. Stephens raised shares of Fulton Financial from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th. Piper Sandler set a $21.00 target price on Fulton Financial in a research note on Thursday, October 17th. Finally, StockNews.com downgraded Fulton Financial from a "hold" rating to a "sell" rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Fulton Financial presently has an average rating of "Hold" and an average price target of $19.67.

Fulton Financial Price Performance

FULT stock traded down $0.05 during mid-day trading on Thursday, reaching $20.58. 1,899,233 shares of the company traded hands, compared to its average volume of 1,790,517. The company has a fifty day moving average price of $20.48 and a 200-day moving average price of $19.10. Fulton Financial has a 52-week low of $13.87 and a 52-week high of $22.49. The company has a market capitalization of $3.75 billion, a P/E ratio of 13.11 and a beta of 0.79. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.78%. During the same period in the previous year, the firm posted $0.42 EPS. As a group, analysts anticipate that Fulton Financial will post 1.79 earnings per share for the current year.

Insider Buying and Selling at Fulton Financial

In other news, CEO Curtis J. Myers sold 24,192 shares of the business's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the transaction, the chief executive officer now owns 155,946 shares in the company, valued at $3,299,817.36. The trade was 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 through this link. 1.07% of the stock is 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 stock. Mercer Global Advisors Inc. ADV lifted its position in Fulton Financial by 20.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 37,929 shares of the bank's stock valued at $644,000 after purchasing an additional 6,430 shares during the period. Amalgamated Bank lifted its holdings in shares of Fulton Financial by 6.2% during the 2nd quarter. Amalgamated Bank now owns 55,335 shares of the bank's stock valued at $940,000 after buying an additional 3,224 shares during the period. AE Wealth Management LLC bought a new position in shares of Fulton Financial during the 2nd quarter valued at approximately $172,000. Profund Advisors LLC increased its holdings in Fulton Financial by 14.1% in the 2nd quarter. Profund Advisors LLC now owns 16,048 shares of the bank's stock worth $272,000 after acquiring an additional 1,983 shares in the last quarter. Finally, Xponance Inc. bought a new stake in shares of Fulton Financial during the 2nd quarter valued at $193,000. Institutional investors 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.