Fulton Financial (NASDAQ:FULT) Stock Rating Lowered by BidaskClub

Fulton Financial (NASDAQ:FULT) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday, March 22nd, BidAskClub reports.

Other equities research analysts also recently issued reports about the company. Barclays reiterated a “buy” rating and issued a $21.00 target price on shares of Fulton Financial in a research report on Friday, January 11th. Boenning Scattergood restated a “hold” rating on shares of Fulton Financial in a research report on Wednesday, January 16th. Zacks Investment Research downgraded Fulton Financial from a “buy” rating to a “hold” rating in a research report on Friday, January 11th. ValuEngine upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. Finally, Piper Jaffray Companies cut Fulton Financial from an “overweight” rating to a “neutral” rating and cut their target price for the company from $19.00 to $17.50 in a research note on Thursday, January 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.90.

Shares of Fulton Financial stock traded down $0.31 during trading hours on Friday, hitting $16.24. The company’s stock had a trading volume of 530,157 shares, compared to its average volume of 1,129,810. Fulton Financial has a 12-month low of $14.38 and a 12-month high of $18.45. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.45 and a beta of 0.98. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, January 15th. The bank reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). The business had revenue of $215.65 million during the quarter, compared to analysts’ expectations of $215.11 million. Fulton Financial had a net margin of 22.66% and a return on equity of 9.25%. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, equities analysts expect that Fulton Financial will post 1.4 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Fulton Financial by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 16,447,070 shares of the bank’s stock worth $273,843,000 after purchasing an additional 231,791 shares during the period. TIAA CREF Investment Management LLC grew its position in shares of Fulton Financial by 11.1% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 465,677 shares of the bank’s stock valued at $7,754,000 after acquiring an additional 46,698 shares during the period. Martingale Asset Management L P acquired a new stake in shares of Fulton Financial during the 3rd quarter valued at about $201,000. HAP Trading LLC acquired a new stake in shares of Fulton Financial during the 4th quarter valued at about $432,000. Finally, Creative Planning acquired a new stake in shares of Fulton Financial during the 4th quarter valued at about $242,000. 66.98% of the stock is currently owned by institutional investors.

Fulton Financial Company Profile

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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Analyst Recommendations for Fulton Financial (NASDAQ:FULT)

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