Fulton Financial (NASDAQ:FULT) Price Target Increased to $17.50 by Analysts at Stephens

Fulton Financial (NASDAQ:FULT) had its price objective increased by Stephens from $15.50 to $17.50 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

A number of other equities research analysts have also issued reports on the stock. Janney Montgomery Scott upgraded shares of Fulton Financial from a neutral rating to a buy rating and set a $19.50 target price on the stock in a research note on Monday, April 29th. Keefe, Bruyette & Woods upped their target price on shares of Fulton Financial from $17.00 to $19.00 and gave the company a market perform rating in a research note on Tuesday, April 30th. StockNews.com lowered shares of Fulton Financial from a hold rating to a sell rating in a research note on Friday, April 26th. Jefferies Financial Group dropped their price objective 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, DA Davidson increased their price objective on shares of Fulton Financial from $15.00 to $18.00 and gave the stock a neutral rating in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $18.00.

Fulton Financial Stock Performance

Shares of Fulton Financial stock opened at $17.06 on Tuesday. The firm has a market cap of $2.77 billion, a PE ratio of 10.60 and a beta of 0.77. The firm’s 50-day simple moving average is $15.53 and its 200-day simple moving average is $15.28. 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 has a 1 year low of $9.64 and a 1 year high of $17.34.

Fulton Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.99%. Fulton Financial’s dividend payout ratio (DPR) is presently 42.24%.

Hedge Funds Weigh In On Fulton Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FULT. Blue Trust Inc. raised its stake in Fulton Financial by 82.8% during the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock valued at $28,000 after acquiring an additional 781 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Fulton Financial by 0.9% during the third quarter. SRS Capital Advisors Inc. now owns 92,173 shares of the bank’s stock valued at $1,116,000 after purchasing an additional 864 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in Fulton Financial by 5.3% in the fourth quarter. AlphaMark Advisors LLC now owns 19,714 shares of the bank’s stock worth $324,000 after purchasing an additional 993 shares during the period. Meridian Wealth Partners LLC grew its position in Fulton Financial by 6.1% in the 3rd quarter. Meridian Wealth Partners LLC now owns 18,579 shares of the bank’s stock valued at $225,000 after buying an additional 1,075 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in Fulton Financial by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 143,357 shares of the bank’s stock valued at $2,278,000 after buying an additional 1,538 shares during the period. 72.02% of the stock is 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.