Fulton Financial (NASDAQ:FULT) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Fulton Financial (NASDAQ:FULT) from a hold rating to a sell rating in a research report released on Friday.

A number of other research firms have also recently commented on FULT. Keefe, Bruyette & Woods boosted their price target on Fulton Financial from $16.00 to $17.00 and gave the stock a market perform rating in a report on Thursday, January 18th. Jefferies Financial Group lowered their price target on Fulton Financial from $17.00 to $16.00 and set a hold rating on the stock in a report on Monday, April 8th. Finally, Stephens lowered their price target on Fulton Financial from $16.00 to $15.50 and set an equal weight rating on the stock in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $17.00.

Fulton Financial Trading Up 7.6 %

Shares of NASDAQ:FULT opened at $16.80 on Friday. The stock has a 50 day moving average of $15.32 and a 200 day moving average of $15.08. The company has a market cap of $2.72 billion, a PE ratio of 10.43 and a beta of 0.81. 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 12-month low of $9.64 and a 12-month high of $17.34.

Fulton Financial Announces Dividend

The company also recently disclosed 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 of this dividend was Thursday, March 28th. This represents a $0.68 annualized dividend and a dividend yield of 4.05%. Fulton Financial’s dividend payout ratio (DPR) is 42.24%.

Institutional Trading of Fulton Financial

Several hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Fulton Financial by 82.8% during the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after acquiring an additional 781 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Fulton Financial by 0.9% during the 3rd quarter. SRS Capital Advisors Inc. now owns 92,173 shares of the bank’s stock worth $1,116,000 after acquiring an additional 864 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in shares of Fulton Financial by 5.3% during the 4th quarter. AlphaMark Advisors LLC now owns 19,714 shares of the bank’s stock worth $324,000 after acquiring an additional 993 shares in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Fulton Financial by 3.3% during the 3rd quarter. Miracle Mile Advisors LLC now owns 32,494 shares of the bank’s stock valued at $394,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Meridian Wealth Partners LLC increased its position in shares of Fulton Financial by 6.1% during the 3rd quarter. Meridian Wealth Partners LLC now owns 18,579 shares of the bank’s stock valued at $225,000 after purchasing an additional 1,075 shares during the last quarter. 72.02% of the stock is owned by hedge funds and other 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.