DA Davidson raised the firm’s price target on Fulton Financial (FULT) to $18 from $15 and keeps a Neutral rating on the shares. The transaction for deposits of Republic First Bank (FRBK) profiles a solid 20% EPS accretion, and the firm sees potential upside from better loan growth and net interest margin on lower funding pressures now that Fulton has improved its loan-to-deposit ratio to 92% from 99%, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FULT:
- Fulton Financial Corp Announces Acquisition and Future Outlook
- Fulton Financial Corp Announces $250 Million Public Offering
- Fulton Financial 16.7M share Spot Secondary priced at $15.00
- Fulton Financial buys substantially all assets of Republic First from FDIC
- Janney upgrades Fulton Financial to Buy after Republic First deal