Fulton Financial (NASDAQ:FULT) PT Raised to $19.00 at Keefe, Bruyette & Woods

Fulton Financial (NASDAQ:FULT) had its target price upped by Keefe, Bruyette & Woods from $17.00 to $19.00 in a research note released on Tuesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

FULT has been the subject of a number of other reports. Jefferies Financial Group decreased their price objective on Fulton Financial from $17.00 to $16.00 and set a hold rating for the company in a research report on Monday, April 8th. StockNews.com downgraded shares of Fulton Financial from a hold rating to a sell rating in a research report on Friday, April 26th. Janney Montgomery Scott upgraded shares of Fulton Financial from a neutral rating to a buy rating and set a $19.50 target price for the company in a research note on Monday, April 29th. Finally, Stephens cut their price target on shares of Fulton Financial from $16.00 to $15.50 and set an equal weight rating for the company in a report on Thursday, April 18th. 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.com, Fulton Financial has a consensus rating of Hold and a consensus price target of $17.60.

Fulton Financial Price Performance

FULT stock opened at $17.03 on Tuesday. The company has a market capitalization of $2.76 billion, a P/E ratio of 10.58 and a beta of 0.77. The business has a 50 day simple moving average of $15.41 and a 200-day simple moving average of $15.14. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. Fulton Financial has a twelve month low of $9.64 and a twelve month high of $17.34.

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 paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial’s dividend payout ratio (DPR) is 42.24%.

Hedge Funds Weigh In On Fulton Financial

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Fulton Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock valued at $320,061,000 after purchasing an additional 216,465 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Fulton Financial by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock worth $196,188,000 after acquiring an additional 297,923 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Fulton Financial by 36.0% in the fourth quarter. Hsbc Holdings PLC now owns 2,593,793 shares of the bank’s stock valued at $43,043,000 after purchasing an additional 686,269 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Fulton Financial by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,062,343 shares of the bank’s stock valued at $33,946,000 after purchasing an additional 100,902 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Fulton Financial by 0.4% during the 3rd quarter. Northern Trust Corp now owns 1,879,238 shares of the bank’s stock worth $22,758,000 after purchasing an additional 8,292 shares in the last quarter. 72.02% of the stock is owned by hedge funds and other 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.