Fulton Financial (NASDAQ:FULT) Given New $18.00 Price Target at Jefferies Financial Group

Fulton Financial (NASDAQ:FULT) had its price target cut by Jefferies Financial Group from $18.50 to $18.00 in a research note published on Wednesday, Benzinga reports. They currently have a hold rating on the bank’s stock.

Several other equities analysts have also weighed in on FULT. Stephens increased their price objective on shares of Fulton Financial from $15.50 to $17.50 and gave the company an equal weight rating in a research report on Tuesday, May 7th. Keefe, Bruyette & Woods boosted their price objective on Fulton Financial from $17.00 to $19.00 and gave the stock a market perform rating in a report on Tuesday, April 30th. Janney Montgomery Scott upgraded Fulton Financial from a neutral rating to a buy rating and set a $19.50 target price on the stock in a research note on Monday, April 29th. DA Davidson boosted their price target on Fulton Financial from $15.00 to $18.00 and gave the company a neutral rating in a research note on Tuesday, April 30th. Finally, StockNews.com cut Fulton Financial from a hold rating to a sell rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Fulton Financial presently has a consensus rating of Hold and a consensus price target of $18.40.

Fulton Financial Trading Down 2.3 %

Fulton Financial stock opened at $16.40 on Wednesday. The stock has a 50-day simple moving average of $16.65 and a 200 day simple moving average of $16.00. The stock has a market capitalization of $2.98 billion, a P/E ratio of 10.19 and a beta of 0.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 0.93. Fulton Financial has a 52 week low of $11.47 and a 52 week high of $17.68.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, April 16th. The bank reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Fulton Financial had a return on equity of 11.73% and a net margin of 18.31%. The company had revenue of $230.36 million during the quarter, compared to the consensus estimate of $268.90 million. Analysts expect that Fulton Financial will post 1.57 earnings per share for the current year.

Fulton Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.68 annualized dividend and a yield of 4.15%. Fulton Financial’s dividend payout ratio is presently 42.24%.

Institutional Trading of Fulton Financial

Large investors have recently modified their holdings of the stock. 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 worth $22,758,000 after purchasing an additional 8,292 shares during the period. Alps Advisors Inc. lifted its holdings in shares of Fulton Financial by 12.2% during the 3rd quarter. Alps Advisors Inc. now owns 61,290 shares of the bank’s stock worth $742,000 after acquiring an additional 6,672 shares during the period. Neo Ivy Capital Management boosted its position in shares of Fulton Financial by 519.7% during the 3rd quarter. Neo Ivy Capital Management now owns 20,040 shares of the bank’s stock worth $243,000 after acquiring an additional 16,806 shares in the last quarter. American Century Companies Inc. increased its stake in 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 last quarter. Finally, CIC Wealth LLC acquired a new position in Fulton Financial during the fourth quarter valued at approximately $180,000. 72.02% of the stock is owned by institutional investors and hedge funds.

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.