Stephens Cuts Fulton Financial (NASDAQ:FULT) Price Target to $15.50

Fulton Financial (NASDAQ:FULT) had its target price cut by Stephens from $16.00 to $15.50 in a report released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the bank’s stock.

A number of other equities analysts also recently weighed in on the company. Jefferies Financial Group cut their target price on Fulton Financial from $17.00 to $16.00 and set a hold rating on the stock in a research note on Monday, April 8th. Keefe, Bruyette & Woods boosted their target price on Fulton Financial from $16.00 to $17.00 and gave the stock a market perform rating in a research note on Thursday, January 18th. Finally, StockNews.com upgraded Fulton Financial from a sell rating to a hold rating in a research note on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $16.17.

Fulton Financial Stock Performance

Shares of FULT opened at $14.99 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 0.90. The stock has a 50 day moving average price of $15.30 and a two-hundred day moving average price of $14.92. The firm has a market capitalization of $2.43 billion, a P/E ratio of 9.31 and a beta of 0.81. Fulton Financial has a 52 week low of $9.64 and a 52 week high of $17.06.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.68 annualized dividend and a yield of 4.54%. Fulton Financial’s payout ratio is 42.24%.

Hedge Funds Weigh In On Fulton Financial

Several institutional investors have recently bought and sold shares of FULT. Norges Bank purchased a new position in Fulton Financial in the fourth quarter valued at approximately $29,379,000. BlackRock Inc. lifted its stake in Fulton Financial by 6.0% in the first quarter. BlackRock Inc. now owns 21,821,468 shares of the bank’s stock valued at $362,670,000 after purchasing an additional 1,232,379 shares during the last quarter. Millennium Management LLC lifted its stake in Fulton Financial by 108.4% in the fourth quarter. Millennium Management LLC now owns 2,285,030 shares of the bank’s stock valued at $38,457,000 after purchasing an additional 1,188,745 shares during the last quarter. Vanguard Group Inc. lifted its stake in Fulton Financial by 7.2% in the third quarter. Vanguard Group Inc. now owns 17,117,537 shares of the bank’s stock valued at $270,457,000 after purchasing an additional 1,149,047 shares during the last quarter. Finally, State Street Corp lifted its stake in Fulton Financial by 14.6% in the second quarter. State Street Corp now owns 8,853,370 shares of the bank’s stock valued at $106,947,000 after purchasing an additional 1,125,867 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Company Profile

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.