Fulton Financial (NASDAQ:FULT) Raised 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 sent to investors on Monday morning, MarketBeat reports. The firm currently has $19.50 price target on the bank’s stock.

Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods increased their price target on shares of Fulton Financial from $16.00 to $17.00 and gave the stock a market perform rating in a research report on Thursday, January 18th. Stephens cut their target price on shares of Fulton Financial from $16.00 to $15.50 and set an equal weight rating for the company in a research report on Thursday, April 18th. StockNews.com downgraded shares of Fulton Financial from a hold rating to a sell rating in a research note on Friday, April 26th. Finally, Jefferies Financial Group cut their price objective on Fulton Financial from $17.00 to $16.00 and set a hold rating for the company in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $17.60.

Fulton Financial Stock Up 2.1 %

NASDAQ:FULT opened at $16.90 on Monday. The business’s fifty day moving average price is $15.34 and its 200 day moving average price is $15.11. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 10.50 and a beta of 0.81. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. Fulton Financial has a 1-year low of $9.64 and a 1-year high of $17.34.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.68 annualized dividend and a yield of 4.02%. Fulton Financial’s dividend payout ratio (DPR) is currently 42.24%.

Institutional Trading of Fulton Financial

Several large investors have recently made changes to their positions in the stock. Morton Brown Family Wealth LLC bought a new position in shares of Fulton Financial in the 4th quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in shares of Fulton Financial by 82.8% in the fourth quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after buying an additional 781 shares during the last quarter. Strs Ohio bought a new stake in shares of Fulton Financial during the 4th quarter worth $29,000. Disciplined Equity Management Inc. bought a new stake in shares of Fulton Financial during the 4th quarter worth $32,000. Finally, YHB Investment Advisors Inc. acquired a new position in Fulton Financial in the 1st quarter valued at $36,000. 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.