Fulton Financial (NASDAQ:FULT) Downgraded 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 released on Friday.

A number of other analysts also recently issued reports on FULT. Jefferies Financial Group decreased their price objective on shares of Fulton Financial from $17.00 to $16.00 and set a hold rating for the company in a report on Monday, April 8th. Stephens reduced 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. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Fulton Financial from $16.00 to $17.00 and gave the stock a market perform rating in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $16.17.

Fulton Financial Stock Performance

NASDAQ FULT opened at $15.62 on Friday. Fulton Financial has a 52-week low of $9.64 and a 52-week high of $17.06. The company has a 50-day simple moving average of $15.30 and a 200 day simple moving average of $15.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $2.53 billion, a PE ratio of 9.70 and a beta of 0.81.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.17 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.68 annualized dividend and a dividend yield of 4.35%. Fulton Financial’s payout ratio is 42.24%.

Hedge Funds Weigh In On Fulton Financial

Large investors have recently modified their holdings of the company. American Century Companies Inc. boosted its position in shares of Fulton Financial by 16.0% in the third quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock valued at $20,370,000 after acquiring an additional 232,462 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Fulton Financial by 76.7% in the third quarter. Janney Montgomery Scott LLC now owns 158,034 shares of the bank’s stock valued at $1,914,000 after acquiring an additional 68,600 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Fulton Financial by 3.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,258 shares of the bank’s stock valued at $1,206,000 after acquiring an additional 2,223 shares during the period. Neo Ivy Capital Management boosted its position in shares of Fulton Financial by 519.7% in the third quarter. Neo Ivy Capital Management now owns 20,040 shares of the bank’s stock valued at $243,000 after acquiring an additional 16,806 shares during the period. Finally, Northern Trust Corp lifted its position in Fulton Financial by 0.4% during the third quarter. Northern Trust Corp now owns 1,879,238 shares of the bank’s stock valued at $22,758,000 after purchasing an additional 8,292 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors.

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.