Keefe, Bruyette & Woods Reacts To News From Fulton Financial

In a report published Tuesday, Keefe, Bruyette & Woods analyst Christopher McGratty reiterated an Outperform rating and $13.50 price target on

. In the report, Keefe, Bruyette & Woods noted, “FULT disclosed in an 8K [yesterday] afternoon that its Maryland-based bank sub, The Columbia Bank, officially entered into a Consent Order with the FDIC related to BSA/AML compliance. This announcement was anticipated as management has been transparent about this possibility in recent months and importantly this will not have any impact on its expense guidance, as it already factors in the possibility of all its bank subs' receiving Consent Orders.” Fulton Financial closed on Monday at $12.57.