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

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

A number of other brokerages have 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. Keefe, Bruyette & Woods upped their price objective on shares of Fulton Financial from $16.00 to $17.00 and gave the stock a market perform rating in a report on Thursday, January 18th. Finally, StockNews.com upgraded shares of Fulton Financial from a sell rating to a hold rating in a report on Wednesday, March 13th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of Hold and an average target price of $15.30.

Fulton Financial Trading Down 0.4 %

Fulton Financial stock opened at $14.43 on Thursday. The company’s fifty day simple moving average is $15.31 and its 200-day simple moving average is $14.88. The company has a quick ratio of 0.95, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. Fulton Financial has a 12 month low of $9.64 and a 12 month high of $17.06. The stock has a market cap of $2.34 billion, a P/E ratio of 8.96 and a beta of 0.81.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Wednesday, January 17th. The bank reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $271.38 million for the quarter, compared to analysts’ expectations of $268.70 million. Fulton Financial had a net margin of 18.31% and a return on equity of 11.50%. Fulton Financial’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. As a group, sell-side analysts forecast that Fulton Financial will post 1.53 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial’s dividend payout ratio (DPR) is 42.24%.

Institutional Investors Weigh In On Fulton Financial

Hedge funds have recently bought and sold shares of the company. Raymond James & Associates raised its position in shares of Fulton Financial by 12.0% during the first quarter. Raymond James & Associates now owns 49,094 shares of the bank’s stock valued at $816,000 after buying an additional 5,268 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Fulton Financial by 19.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,186 shares of the bank’s stock valued at $485,000 after buying an additional 4,742 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Fulton Financial during the first quarter valued at about $185,000. HighTower Advisors LLC raised its position in shares of Fulton Financial by 2.0% during the first quarter. HighTower Advisors LLC now owns 59,232 shares of the bank’s stock valued at $986,000 after buying an additional 1,142 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Fulton Financial by 2.9% during the first quarter. Private Advisor Group LLC now owns 31,259 shares of the bank’s stock valued at $520,000 after buying an additional 887 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.