Fulton Financial (NASDAQ:FULT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, March 13th.
According to Zacks, “Fulton Financial Corp. is a bank holding company. It provides retail and commercial banking and investment management and trust services in central and eastern Pennsylvania, southern New Jersey, northern Maryland and southern Delaware through its wholly-owned subsidiaries: Fulton Bank, Lebanon Valley Farmers Bank, Swineford National Bank, Lafayette Ambassador Bank, FNB Bank, N.A., Great Valley Bank, Hagerstown Trust Company, Delaware National Bank, The Bank of Gloucester County, The Woodstown National Bank & Trust Company, and The Peoples Bank of Elkton. “
Other analysts have also issued research reports about the stock. BidaskClub upgraded shares of Fulton Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 31st. Barclays increased their price target on shares of Fulton Financial from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $18.80.
Shares of Fulton Financial stock opened at $18.90 on Tuesday. Fulton Financial has a one year low of $16.45 and a one year high of $19.90. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3,312.96, a price-to-earnings ratio of 17.66 and a beta of 1.02.
Fulton Financial (NASDAQ:FULT) last posted its earnings results on Monday, January 22nd. The bank reported $0.28 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. Fulton Financial had a net margin of 19.59% and a return on equity of 8.51%. The firm had revenue of $206.37 million during the quarter, compared to analyst estimates of $201.30 million. During the same quarter in the prior year, the business posted $0.24 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. research analysts expect that Fulton Financial will post 1.25 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of FULT. Zeke Capital Advisors LLC bought a new position in Fulton Financial during the fourth quarter valued at about $191,000. FDx Advisors Inc. bought a new position in Fulton Financial during the third quarter valued at about $192,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Fulton Financial by 46.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,306 shares of the bank’s stock valued at $202,000 after buying an additional 3,585 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Fulton Financial during the fourth quarter valued at about $208,000. Finally, Tower Bridge Advisors bought a new position in Fulton Financial during the fourth quarter valued at about $219,000. Institutional investors own 63.37% of the company’s stock.
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About Fulton Financial
Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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