Fulton Financial (NASDAQ:FULT) Downgraded by StockNews.com

StockNews.com downgraded shares of Fulton Financial (NASDAQ:FULT) from a hold rating to a sell rating in a research report released on Friday.

A number of other equities analysts also recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Fulton Financial from $16.00 to $17.00 and gave the stock a market perform rating in a report on Thursday, January 18th. Jefferies Financial Group decreased their target price on shares of Fulton Financial from $17.00 to $16.00 and set a hold rating on the stock in a research note on Monday, April 8th. Finally, Stephens decreased their target price on shares of Fulton Financial from $16.00 to $15.50 and set an equal weight rating on the stock in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $16.17.

Fulton Financial Stock Performance

FULT opened at $15.62 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 9.70 and a beta of 0.81. The company’s 50 day moving average is $15.30 and its 200 day moving average is $15.01. Fulton Financial has a 12-month low of $9.64 and a 12-month high of $17.06.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date was Thursday, March 28th. Fulton Financial’s payout ratio is 42.24%.

Institutional Investors Weigh In On Fulton Financial

Several institutional investors and hedge funds have recently modified their holdings of FULT. Morton Brown Family Wealth LLC bought a new stake in shares of Fulton Financial during the fourth quarter valued at approximately $26,000. Blue Trust Inc. raised its position in shares of Fulton Financial by 82.8% during the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock valued at $28,000 after buying an additional 781 shares during the last quarter. Strs Ohio bought a new stake in shares of Fulton Financial during the fourth quarter valued at approximately $29,000. Disciplined Equity Management Inc. bought a new stake in shares of Fulton Financial during the fourth quarter valued at approximately $32,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Fulton Financial during the first quarter valued at approximately $36,000. Institutional investors own 72.02% of the company’s stock.

About Fulton Financial

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.