Fulton Financial (NASDAQ:FULT) Upgraded to “Buy” at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Fulton Financial (NASDAQ:FULT) from a neutral rating to a buy rating in a research report report published on Monday morning, MarketBeat Ratings reports. The firm currently has $19.50 target price on the bank’s stock.

A number of other equities analysts have also recently weighed in on FULT. Jefferies Financial Group reduced their price target on Fulton Financial from $17.00 to $16.00 and set a hold rating for the company in a report on Monday, April 8th. Keefe, Bruyette & Woods increased their target price on Fulton Financial from $16.00 to $17.00 and gave the company a market perform rating in a report on Thursday, January 18th. StockNews.com cut Fulton Financial from a hold rating to a sell rating in a report on Friday. Finally, Stephens reduced their target price on Fulton Financial from $16.00 to $15.50 and set an equal weight rating for the company in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $17.00.

Fulton Financial Stock Up 7.6 %

Shares of FULT opened at $16.80 on Monday. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 10.43 and a beta of 0.81. Fulton Financial has a 52 week low of $9.64 and a 52 week high of $17.34. 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 stock’s 50-day moving average price is $15.32 and its 200-day moving average price is $15.08.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.17 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.68 annualized dividend and a dividend yield of 4.05%. Fulton Financial’s dividend payout ratio is currently 42.24%.

Institutional Trading of Fulton Financial

Hedge funds have recently modified their holdings of the stock. Morton Brown Family Wealth LLC acquired a new stake in shares of Fulton Financial in the fourth quarter valued at $26,000. Blue Trust Inc. raised 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 buying an additional 781 shares in the last quarter. Strs Ohio acquired a new stake in Fulton Financial in the fourth quarter valued at $29,000. Disciplined Equity Management Inc. acquired a new stake in Fulton Financial in the fourth quarter valued at $32,000. Finally, YHB Investment Advisors Inc. acquired a new stake in Fulton Financial in the first quarter valued at $36,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

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.