Fulton Financial (NASDAQ:FULT) Reaches New 12-Month High at $17.50

Shares of Fulton Financial Co. (NASDAQ:FULT) hit a new 52-week high 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 research firms have commented on FULT. Janney Montgomery Scott raised 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 report on Monday. Keefe, Bruyette & Woods upped their target price on shares of Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Thursday, January 18th. Stephens cut their price target on shares of Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating on the stock in a research note on Thursday, April 18th. Jefferies Financial Group cut their price target 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, StockNews.com lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.00.

Fulton Financial Price Performance

The stock’s 50 day moving average is $15.30 and its two-hundred day moving average is $15.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $2.74 billion, a PE ratio of 9.70 and a beta of 0.81.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid 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 4.02%. Fulton Financial’s payout ratio is 42.24%.

Institutional Trading of Fulton Financial

Large investors have recently made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of Fulton Financial by 16.0% during the third quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock worth $20,370,000 after buying an additional 232,462 shares during the period. Janney Montgomery Scott LLC increased its stake in 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 purchasing an additional 68,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 purchasing an additional 2,223 shares during the last quarter. Neo Ivy Capital Management increased its stake in 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 purchasing an additional 16,806 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Fulton Financial by 0.4% in 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 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.