Fulton Financial (NASDAQ:FULT) Hits New 52-Week High at $17.50

Fulton Financial Co. (NASDAQ:FULT)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $17.50 and last traded at $17.50, with a volume of 61364 shares changing hands. The stock had previously closed at $15.62.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FULT shares. StockNews.com lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Janney Montgomery Scott upgraded Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price target on the stock in a report on Monday. Stephens dropped their price objective on Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a report on Thursday, April 18th. DA Davidson increased their target price on Fulton Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lifted their target price on Fulton Financial from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.60.

Fulton Financial Stock Performance

The firm has a 50 day moving average of $15.32 and a 200-day moving average of $15.08. The company has a market cap of $2.68 billion, a P/E ratio of 10.27 and a beta of 0.81. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Thursday, March 28th. Fulton Financial’s payout ratio is 42.24%.

Institutional Trading of Fulton Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Morton Brown Family Wealth LLC purchased a new position in Fulton Financial during the 4th quarter valued at about $26,000. Blue Trust Inc. raised its stake in Fulton Financial by 82.8% in the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after buying an additional 781 shares in the last quarter. Strs Ohio purchased a new stake in Fulton Financial during the fourth quarter worth $29,000. Disciplined Equity Management Inc. purchased a new stake in Fulton Financial during the fourth quarter worth $32,000. Finally, YHB Investment Advisors Inc. bought a new stake in Fulton Financial during the 1st quarter valued at $36,000. 72.02% of the stock is currently owned by institutional investors.

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.