Barclays Reiterates an 'Overweight' on Fulton Financial (FULT); Moving in the Right Direction

Barclays reiterates an 'Overweight' on Fulton Financial (NASDAQ: FULT), PT $13.

Barclays analyst says, "FULT implemented fee increases on April 1 and June 1 with the goal of generating $8M of incremental revenue, and it looks like they were successful, particularly considering the core deposit growth despite higher fees. We estimate that FULT will lose $8M in annual interchange revenue from the Durbin Amendment, which is already incorporated into our estimates, and the new fees should help offset the impact."

"Overall, we believe the results were yet another positive step in FULT's return to normalized earnings, which we estimate at roughly $1.10 as credit improves and loan growth returns."

For more ratings news on Fulton Financial click here and for the rating history of Fulton Financial click here.

Shares of Fulton Financial closed at $10.32 yesterday.

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