Fulton Financial (NASDAQ:FULT) Lowered to Sell at ValuEngine

Fulton Financial (NASDAQ:FULT) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

A number of other equities research analysts also recently issued reports on the stock. BidaskClub upgraded shares of Fulton Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 17th. TheStreet downgraded shares of Fulton Financial from a “b” rating to a “c+” rating in a research note on Thursday, February 27th. Finally, Zacks Investment Research downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 31st. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Fulton Financial has an average rating of “Sell” and an average price target of $19.00.

Fulton Financial stock traded up $0.83 during trading on Thursday, reaching $10.83. The company had a trading volume of 1,146,900 shares, compared to its average volume of 1,210,291. Fulton Financial has a 12-month low of $9.83 and a 12-month high of $18.00. The stock’s 50 day moving average price is $13.78 and its two-hundred day moving average price is $16.19. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 7.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.95.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, January 21st. The bank reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Fulton Financial had a net margin of 22.34% and a return on equity of 10.03%. The company had revenue of $217.76 million during the quarter, compared to analysts’ expectations of $216.83 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. As a group, research analysts expect that Fulton Financial will post 1.14 earnings per share for the current year.

In other news, Director Ernest J. Waters bought 2,000 shares of Fulton Financial stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $13.22 per share, with a total value of $26,440.00. Following the completion of the transaction, the director now owns 30,468 shares in the company, valued at approximately $402,786.96. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.02% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in shares of Fulton Financial during the fourth quarter worth $44,000. Raab & Moskowitz Asset Management LLC acquired a new position in shares of Fulton Financial during the fourth quarter worth $49,000. Marshall Wace North America L.P. acquired a new stake in Fulton Financial in the fourth quarter valued at $83,000. Tompkins Financial Corp acquired a new stake in Fulton Financial in the fourth quarter valued at $90,000. Finally, Calton & Associates Inc. acquired a new stake in Fulton Financial in the fourth quarter valued at $177,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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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