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

Fulton Financial (NASDAQ:FULT) had its target price cut by equities researchers at Piper Sandler from $22.00 to $20.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price points to a potential upside of 25.20% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. DA Davidson reiterated a “neutral” rating and issued a $20.00 price objective on shares of Fulton Financial in a report on Wednesday. Hovde Group increased their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research report on Monday, January 27th. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Fulton Financial from $24.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.79.

Fulton Financial Price Performance

Shares of FULT stock traded up $0.00 during mid-day trading on Thursday, hitting $15.97. 967,617 shares of the stock were exchanged, compared to its average volume of 1,548,678. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. Fulton Financial has a 52-week low of $13.87 and a 52-week high of $22.49. The firm has a fifty day moving average of $18.17 and a 200 day moving average of $19.21. The company has a market cap of $2.91 billion, a PE ratio of 10.14 and a beta of 0.68.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.08. The business had revenue of $322.64 million during the quarter, compared to the consensus estimate 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 prior year, the company posted $0.40 EPS. Research analysts anticipate that Fulton Financial will post 1.91 earnings per share for the current year.

Insider Transactions at Fulton Financial

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.69, for a total value of $275,632.18. Following the transaction, the president now owns 63,682 shares of the company’s stock, valued at $1,317,580.58. This represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.07% of the company’s stock.

Hedge Funds Weigh In On Fulton Financial

Several large investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in Fulton Financial during the third quarter worth $267,000. MML Investors Services LLC lifted its position in shares of Fulton Financial by 14.1% during the third quarter. MML Investors Services LLC now owns 23,971 shares of the bank’s stock worth $435,000 after purchasing an additional 2,967 shares in the last quarter. Barclays PLC boosted its stake in shares of Fulton Financial by 79.4% in the third quarter. Barclays PLC now owns 420,636 shares of the bank’s stock valued at $7,626,000 after purchasing an additional 186,215 shares during the period. Geode Capital Management LLC grew 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in Fulton Financial by 52.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 31,500 shares of the bank’s stock worth $571,000 after buying an additional 10,773 shares during the period. 72.02% of the stock is currently owned by institutional investors and hedge funds.

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.