Fulton Financial (NASDAQ:FULT) Shares Cross Above Two Hundred Day Moving Average of $14.63

Fulton Financial Co. (NASDAQ:FULT)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.63 and traded as high as $15.95. Fulton Financial shares last traded at $15.89, with a volume of 1,436,431 shares.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price target on Fulton Financial from $16.00 to $17.00 and gave the stock a “market perform” rating in a research report on Thursday, January 18th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, Stephens reissued an “equal weight” rating and set a $16.00 price target on shares of Fulton Financial in a research report on Wednesday, January 17th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.60.

Fulton Financial Stock Up 0.9 %

The firm has a 50 day simple moving average of $15.53 and a two-hundred day simple moving average of $14.64. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $2.57 billion, a P/E ratio of 9.69 and a beta of 0.80.

Fulton Financial (NASDAQ:FULT) last released its earnings results on Wednesday, January 17th. The bank reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Fulton Financial had a return on equity of 12.01% and a net margin of 18.94%. The firm had revenue of $271.38 million during the quarter, compared to analysts’ expectations of $268.70 million. During the same period in the prior year, the company earned $0.48 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities research analysts expect that Fulton Financial Co. will post 1.51 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Thursday, March 28th. Fulton Financial’s payout ratio is presently 41.46%.

Institutional Investors Weigh In On Fulton Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in FULT. Norges Bank bought a new position in shares of Fulton Financial in the 4th quarter valued at $29,379,000. BlackRock Inc. lifted its stake in shares of Fulton Financial by 6.0% in the 1st quarter. BlackRock Inc. now owns 21,821,468 shares of the bank’s stock valued at $362,670,000 after acquiring an additional 1,232,379 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Fulton Financial by 108.4% in the 4th quarter. Millennium Management LLC now owns 2,285,030 shares of the bank’s stock valued at $38,457,000 after acquiring an additional 1,188,745 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Fulton Financial by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,117,537 shares of the bank’s stock valued at $270,457,000 after acquiring an additional 1,149,047 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Fulton Financial by 14.6% in the 2nd quarter. State Street Corp now owns 8,853,370 shares of the bank’s stock valued at $106,947,000 after acquiring an additional 1,125,867 shares during the last quarter. 72.02% of the stock is currently owned by 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.