The stock of Fulton Financial Corp (NASDAQ:FULT) hit a new 52-week high and has $22.72 target or 54.00% above today’s $14.75 share price. The 8 months bullish chart indicates low risk for the $2.57 billion company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $22.72 price target is reached, the company will be worth $1.39 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.24M shares traded hands or 40.85% up from the average. Fulton Financial Corp (NASDAQ:FULT) has risen 8.17% since March 16, 2016 and is uptrending. It has outperformed by 2.63% the S&P500.
Fulton Financial Corp (NASDAQ:FULT) Ratings Coverage
Out of 7 analysts covering Fulton Financial Corp. (NASDAQ:FULT), 1 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 14% are positive. Fulton Financial Corp. has been the topic of 11 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of Fulton Financial Corp (NASDAQ:FULT) earned “Neutral” rating by JP Morgan on Wednesday, November 18. The firm earned “Outperform” rating on Wednesday, October 21 by Boenning & Scattergood. The stock of Fulton Financial Corp (NASDAQ:FULT) earned “Buy” rating by Guggenheim on Thursday, January 21. Boenning & Scattergood downgraded the stock to “Neutral” rating in Thursday, April 21 report. The rating was initiated by Hovde Group with “Outperform” on Monday, September 12. Keefe Bruyette & Woods maintained it with “Market Perform” rating and $13 target price in Thursday, October 22 report. The stock of Fulton Financial Corp (NASDAQ:FULT) earned “Hold” rating by Guggenheim on Monday, March 7.
According to Zacks Investment Research, “Fulton Financial Corp. is a bank holding company. It provides retail and commercial banking and investment management and trust services in central and eastern Pennsylvania, southern New Jersey, northern Maryland and southern Delaware through its wholly-owned subsidiaries: Fulton Bank, Lebanon Valley Farmers Bank, Swineford National Bank, Lafayette Ambassador Bank, FNB Bank, N.A., Great Valley Bank, Hagerstown Trust Company, Delaware National Bank, The Bank of Gloucester County, The Woodstown National Bank & Trust Company, and The Peoples Bank of Elkton.”
Insitutional Activity: The institutional sentiment increased to 1.41 in 2016 Q2. Its up 0.35, from 1.06 in 2016Q1. The ratio is positive, as 16 funds sold all Fulton Financial Corp shares owned while 55 reduced positions. 22 funds bought stakes while 78 increased positions. They now own 101.51 million shares or 2.50% more from 99.03 million shares in 2016Q1.
Advantus Management holds 21,008 shares or 0.01% of its portfolio. Oregon Pub Employees Retirement Fund, a Oregon-based fund reported 58,858 shares. Pnc Finance Services Grp holds 0% or 94,887 shares in its portfolio. Glenmede Trust Company Na holds 104,463 shares or 0.01% of its portfolio. Hancock Holdg holds 0.15% or 263,308 shares in its portfolio. Lsv Asset Management, a Illinois-based fund reported 1.59M shares. Raymond James Financial Services Advisors has 214,539 shares for 0.03% of their US portfolio. Gardner Russo Gardner Ltd last reported 34,930 shares in the company. Security National holds 0.36% or 71,468 shares in its portfolio. The North Carolina-based National Bank Of America Corporation De has invested 0% in Fulton Financial Corp (NASDAQ:FULT). Blackrock Institutional Na has 0.01% invested in the company for 5.23M shares. Dimensional Fund Advsr Limited Partnership last reported 13.55M shares in the company. Palisade Cap Management Lc Nj has 0.66% invested in the company for 1.34M shares. Capstone Asset Mgmt Com holds 0.01% or 14,064 shares in its portfolio. Asset Mngmt holds 4,500 shares or 0% of its portfolio.
Insider Transactions: Since June 21, 2016, the stock had 1 buy, and 1 insider sale for $87,768 net activity. MOXLEY JAMES R III bought 9,896 shares worth $135,662. The insider Myers Curtis J sold $223,430.
More recent Fulton Financial Corp (NASDAQ:FULT) news were published by: Marketwired.com which released: “William “Smokey” Glover joins Fulton Financial Corporation as Director of Fair …” on October 17, 2016. Also Forbes.com published the news titled: “Ex-Dividend Reminder: Acadia Realty Trust, Fulton Financial and Goldman Sachs BDC” on September 26, 2016. Finance.Yahoo.com‘s news article titled: “Fulton Financial Corporation Announces Dates for Third Quarter 2016 Earnings …” with publication date: October 03, 2016 was also an interesting one.
FULT Company Profile
Fulton Financial Corporation, incorporated on February 8, 1982, is a multi-bank financial holding company. The Firm provides a range of banking and financial services to businesses and clients through its banking subsidiaries: Fulton Bank, N.A., Fulton Bank of New Jersey, The Columbia Bank, Lafayette Ambassador Bank, FNB Bank, N.A. and Swineford National Bank. The Company, through its banking subsidiaries, offers a range of retail and commercial banking services in Pennsylvania, Delaware, Maryland, New Jersey and Virginia.
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