Fulton Financial (NASDAQ:FULT)‘s stock had its “market perform” rating reaffirmed by Raymond James in a research note issued to investors on Tuesday, Benzinga reports.
Separately, Zacks Investment Research raised shares of Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Tuesday, March 23rd.
NASDAQ:FULT traded down $0.40 during mid-day trading on Tuesday, hitting $17.00. 51,397 shares of the company’s stock were exchanged, compared to its average volume of 967,403. Fulton Financial has a one year low of $8.89 and a one year high of $18.41. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.95. The business has a fifty day moving average price of $16.94 and a 200 day moving average price of $13.68. The company has a market cap of $2.76 billion, a PE ratio of 15.25 and a beta of 0.82.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Fulton Financial by 3.3% during the fourth quarter. BlackRock Inc. now owns 20,290,397 shares of the bank’s stock valued at $258,095,000 after purchasing an additional 646,405 shares during the last quarter. Janus Henderson Group PLC grew its position in Fulton Financial by 17.0% during the fourth quarter. Janus Henderson Group PLC now owns 5,295,818 shares of the bank’s stock valued at $67,363,000 after buying an additional 770,627 shares during the period. Bank of New York Mellon Corp grew its position in Fulton Financial by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,279,233 shares of the bank’s stock valued at $28,992,000 after buying an additional 62,064 shares during the period. Fulton Bank N.A. grew its position in Fulton Financial by 0.3% during the first quarter. Fulton Bank N.A. now owns 1,988,114 shares of the bank’s stock valued at $33,858,000 after buying an additional 6,000 shares during the period. Finally, Norges Bank bought a new stake in Fulton Financial during the fourth quarter valued at approximately $24,732,000. 62.56% of the stock is owned by hedge funds and other institutional investors.
About Fulton Financial
Fulton Financial Corporation operates as a financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers secured consumer loans, including home equity loans and lines of credit, automobile loans, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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