Fulton Financial (NASDAQ:FULT) Shares Cross Above Two Hundred Day Moving Average of $14.63

Fulton Financial Co. (NASDAQ:FULTGet Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.63 and traded as high as $15.95. Fulton Financial shares last traded at $15.89, with a volume of 1,436,431 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a report on Thursday, January 18th. Stephens reiterated an “equal weight” rating and issued a $16.00 price target on shares of Fulton Financial in a report on Wednesday, January 17th. Finally, StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.60.

Read Our Latest Research Report on FULT

Fulton Financial Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50 day moving average price of $15.53 and a 200 day moving average price of $14.64. The company has a market cap of $2.57 billion, a P/E ratio of 9.69 and a beta of 0.80.

Fulton Financial (NASDAQ:FULTGet Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The bank reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Fulton Financial had a return on equity of 12.01% and a net margin of 18.94%. The company had revenue of $271.38 million for the quarter, compared to the consensus estimate of $268.70 million. During the same quarter in the previous year, the business earned $0.48 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts expect that Fulton Financial Co. will post 1.51 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Thursday, March 28th. Fulton Financial’s dividend payout ratio is presently 41.46%.

Institutional Trading of Fulton Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Fulton Financial by 6.0% during the first quarter. BlackRock Inc. now owns 21,821,468 shares of the bank’s stock worth $362,670,000 after purchasing an additional 1,232,379 shares during the period. Vanguard Group Inc. raised its position in shares of Fulton Financial by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock worth $320,061,000 after purchasing an additional 216,465 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Fulton Financial by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock worth $196,188,000 after purchasing an additional 297,923 shares during the period. State Street Corp raised its position in shares of Fulton Financial by 8.9% during the first quarter. State Street Corp now owns 8,941,860 shares of the bank’s stock worth $149,945,000 after purchasing an additional 731,995 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Fulton Financial by 1.8% during the second quarter. Geode Capital Management LLC now owns 3,375,026 shares of the bank’s stock worth $40,230,000 after purchasing an additional 59,775 shares during the period. Institutional investors own 72.02% of the company’s stock.

About Fulton Financial

(Get Free Report)

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.

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