Fulton Financial (NASDAQ:FULT) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Fulton Financial (NASDAQ:FULT) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

Several other brokerages also recently weighed in on FULT. Stephens cut their target price on shares of Fulton Financial from $16.00 to $15.50 and set an equal weight rating for the company in a research note on Thursday, April 18th. 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 report on Thursday, January 18th. Finally, Jefferies Financial Group decreased their target price on Fulton Financial from $17.00 to $16.00 and set a hold rating for the company in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $16.17.

Fulton Financial Price Performance

Shares of NASDAQ FULT opened at $15.62 on Friday. The firm has a market capitalization of $2.53 billion, a P/E ratio of 9.70 and a beta of 0.81. Fulton Financial has a one year low of $9.64 and a one year high of $17.06. The company’s fifty day moving average is $15.30 and its two-hundred day moving average is $15.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.17 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.35%. Fulton Financial’s dividend payout ratio (DPR) is 42.24%.

Hedge Funds Weigh In On Fulton Financial

Several institutional investors and hedge funds have recently bought and sold shares of FULT. Morton Brown Family Wealth LLC acquired a new stake in Fulton Financial in the 4th quarter worth approximately $26,000. Blue Trust Inc. lifted its holdings in Fulton Financial by 82.8% in the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after purchasing an additional 781 shares during the last quarter. Strs Ohio acquired a new stake in Fulton Financial in the 4th quarter worth approximately $29,000. Disciplined Equity Management Inc. acquired a new stake in Fulton Financial in the 4th quarter worth approximately $32,000. Finally, YHB Investment Advisors Inc. acquired a new stake in Fulton Financial in the 1st quarter worth approximately $36,000. Hedge funds and other 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.