KBW Maintains Market Perform on Fulton Financial (FULT)

KBW is out with its message today on Fulton Financial FULT, maintaining Market Perform. In a note to clients, KBW writes, "Fulton posted 1Q11 operating EPS of $0.16 which excludes a penny of securities gains & missed our forecast on slightly weaker spread income & fees. NCOs exceeded a slightly lower provision as credit improved with NPAs, NCOs and delinquencies all down modestly. Net loan growth (-0.2%) remains a challenge as stronger C&I and CRE was masked by runoff in construction & consumer." KBW maintains a $10 PT on FULT. Shares of FULT closed Wednesday at $10.88.