Fulton Financial (NASDAQ:FULT) Price Target Lowered to $21.00 at Keefe, Bruyette & Woods

Fulton Financial (NASDAQ:FULT - Free Report) had its price objective reduced by Keefe, Bruyette & Woods from $24.00 to $21.00 in a report released on Thursday morning,Benzinga reports. They currently have a market perform rating on the bank's stock.

FULT has been the subject of a number of other research reports. StockNews.com upgraded shares of Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Hovde Group increased their target price on Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a research report on Monday, January 27th. Finally, DA Davidson reissued a "neutral" rating and issued a $20.00 price target on shares of Fulton Financial in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $19.79.

Fulton Financial Stock Performance

NASDAQ FULT traded up $0.29 on Thursday, reaching $16.03. 561,605 shares of the company's stock traded hands, compared to its average volume of 1,554,284. Fulton Financial has a fifty-two week low of $14.33 and a fifty-two week high of $22.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 10.19 and a beta of 0.68. The stock has a 50 day moving average price of $17.89 and a 200-day moving average price of $19.20.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. The company had revenue of $322.64 million during the quarter, compared to the consensus estimate of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period in the previous year, the company posted $0.40 earnings per share. Equities research analysts predict that Fulton Financial will post 1.91 EPS for the current fiscal year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.49%. Fulton Financial's payout ratio is presently 42.35%.

Insider Buying and Selling at Fulton Financial

In related news, President Angela M. Snyder sold 13,322 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares of the company's stock, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.07% of the stock is owned by insiders.

Institutional Trading of Fulton Financial

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in shares of Fulton Financial by 10.3% in the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock valued at $99,000 after purchasing an additional 509 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Fulton Financial by 0.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 91,464 shares of the bank's stock valued at $1,763,000 after buying an additional 523 shares during the period. Summit Investment Advisors Inc. lifted its holdings in Fulton Financial by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,997 shares of the bank's stock valued at $366,000 after acquiring an additional 602 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Fulton Financial by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,303 shares of the bank's stock worth $657,000 after acquiring an additional 684 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in Fulton Financial by 57.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank's stock worth $42,000 after acquiring an additional 800 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.