Fulton Financial price target lowered to $20 from $22 at Piper Sandler

Piper Sandler lowered the firm’s price target on Fulton Financial (FULT) to $20 from $22 and keeps a Neutral rating on the shares. Following quarterly results, the firm is reducing its estimates modestly to reflect the updated color and detail from the conference call. With the largely reiterated guide, some expected contraction in net interest margin lq and reversal out of one-time benefits in the quarter, Piper expects earnings in Q2 to return back to levels more in line with its initial Q1 expectation.