Fulton Financial (NASDAQ:FULT) Stock Price Expected to Rise, Hovde Group Analyst Says

Fulton Financial (NASDAQ:FULT) had its price objective lifted by equities research analysts at Hovde Group from $22.00 to $22.50 in a report released on Monday,Briefing.com Automated Import reports. The brokerage currently has a “market perform” rating on the bank’s stock. Hovde Group’s price target indicates a potential upside of 9.44% from the stock’s current price.

Several other analysts also recently issued reports on the company. Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Piper Sandler set a $21.00 price target on Fulton Financial in a research report on Thursday, October 17th. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their target price 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. Finally, DA Davidson lifted their price target on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.64.

Fulton Financial Price Performance

FULT stock opened at $20.56 on Monday. The company has a market cap of $3.74 billion, a PE ratio of 13.10 and a beta of 0.79. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $20.46 and a two-hundred day moving average price of $19.17. Fulton Financial has a 12-month low of $13.87 and a 12-month high of $22.49.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same quarter in the prior year, the firm posted $0.42 earnings per share. As a group, research analysts predict that Fulton Financial will post 1.79 EPS for the current year.

Insider Buying and Selling at Fulton Financial

In related news, CEO Curtis J. Myers sold 24,192 shares of the stock in a transaction that occurred 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 directly owns 155,946 shares of the company’s stock, valued at $3,299,817.36. This represents a 13.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of Fulton Financial in the 3rd quarter worth $33,000. Coston McIsaac & Partners acquired a new position in shares of Fulton Financial in the 3rd quarter worth approximately $54,000. Blue Trust Inc. raised its holdings in shares of Fulton Financial by 28.8% in the 3rd quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock worth $84,000 after purchasing an additional 1,106 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of 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 purchasing an additional 676 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Fulton Financial by 69.3% during the fourth quarter. KBC Group NV now owns 8,517 shares of the bank’s stock worth $164,000 after buying an additional 3,487 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

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.