Fulton Financial (NASDAQ:FULT) Sees Strong Trading Volume Following Analyst Upgrade

Fulton Financial Co. (NASDAQ:FULT - Get Free Report) shares saw unusually-high trading volume on Tuesday after DA Davidson raised their price target on the stock from $15.00 to $18.00. DA Davidson currently has a neutral rating on the stock. Approximately 3,366,850 shares traded hands during mid-day trading, an increase of 163% from the previous session's volume of 1,280,533 shares.The stock last traded at $16.62 and had previously closed at $16.80.

Several other analysts have also issued reports on FULT. Jefferies Financial Group decreased 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 report on Monday, April 8th. Keefe, Bruyette & Woods raised their price target on shares of Fulton Financial from $17.00 to $19.00 and gave the stock a "market perform" rating in a research report on Tuesday. Stephens decreased 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 report on Thursday, April 18th. StockNews.com lowered shares of Fulton Financial from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Janney Montgomery Scott upgraded shares of Fulton Financial from a "neutral" rating to a "buy" rating and set a $19.50 price target on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Fulton Financial presently has a consensus rating of "Hold" and a consensus price target of $17.60.

Institutional Investors Weigh In On Fulton Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Morton Brown Family Wealth LLC bought a new stake in Fulton Financial in the fourth quarter valued at approximately $26,000. Blue Trust Inc. increased its stake in Fulton Financial by 82.8% in the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank's stock valued at $28,000 after purchasing an additional 781 shares in the last quarter. Strs Ohio bought a new stake in Fulton Financial in the fourth quarter valued at approximately $29,000. Disciplined Equity Management Inc. acquired a new position in shares of Fulton Financial in the fourth quarter valued at approximately $32,000. Finally, OLD Point Trust & Financial Services N A acquired a new position in shares of Fulton Financial in the fourth quarter valued at approximately $38,000. 72.02% of the stock is owned by institutional investors.

Fulton Financial Price Performance

The company has a market cap of $2.68 billion, a price-to-earnings ratio of 10.27 and a beta of 0.81. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The company's fifty day moving average price is $15.32 and its two-hundred day moving average price is $15.08.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial's dividend payout ratio (DPR) is presently 42.24%.

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.