StockNews.com Lowers Fulton Financial (NASDAQ:FULT) to Sell

Fulton Financial (NASDAQ:FULT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other brokerages also recently commented on FULT. Keefe, Bruyette & Woods lifted their target price on Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. Stephens decreased their target price on Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a research note on Thursday, April 18th. Finally, Jefferies Financial Group decreased their target price on Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.17.

Fulton Financial Stock Up 0.4 %

NASDAQ:FULT traded up $0.06 during mid-day trading on Friday, reaching $15.62. The stock had a trading volume of 2,656,825 shares, compared to its average volume of 1,134,072. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 9.70 and a beta of 0.81. Fulton Financial has a 1-year low of $9.64 and a 1-year high of $17.06. The stock’s 50 day simple moving average is $15.30 and its two-hundred day simple moving average is $15.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90.

Institutional Investors Weigh In On Fulton Financial

A number of hedge funds have recently made changes to their positions in FULT. Norges Bank bought a new stake in shares of Fulton Financial during the fourth quarter valued at approximately $27,805,000. Hsbc Holdings PLC increased its holdings in shares of Fulton Financial by 36.0% in the fourth quarter. Hsbc Holdings PLC now owns 2,593,793 shares of the bank’s stock valued at $43,043,000 after buying an additional 686,269 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Fulton Financial by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock valued at $196,188,000 after buying an additional 297,923 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of 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 buying an additional 232,462 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Fulton Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 19,444,753 shares of the bank’s stock valued at $320,061,000 after buying an additional 216,465 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

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.