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 note issued to investors on Monday, Marketbeat.com reports. The firm currently has $19.50 price objective on the bank’s stock.

FULT has been the topic of a number of other reports. Keefe, Bruyette & Woods increased their target price on Fulton Financial from $16.00 to $17.00 and gave the stock 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. Jefferies Financial Group cut their target price on Fulton Financial from $17.00 to $16.00 and set a hold rating on the stock in a report on Monday, April 8th. Finally, Stephens cut their target price on Fulton Financial from $16.00 to $15.50 and set an equal weight rating on the stock in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $17.00.

Fulton Financial Price Performance

Fulton Financial stock opened at $16.80 on Monday. The stock 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 stock’s 50 day moving average price is $15.32 and its two-hundred day moving average price is $15.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90.

Fulton Financial Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. boosted its stake in Fulton Financial by 16.0% in the third quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock worth $20,370,000 after buying an additional 232,462 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Fulton Financial by 76.7% in the third quarter. Janney Montgomery Scott LLC now owns 158,034 shares of the bank’s stock worth $1,914,000 after buying an additional 68,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Fulton Financial by 3.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,258 shares of the bank’s stock worth $1,206,000 after buying an additional 2,223 shares in the last quarter. Neo Ivy Capital Management boosted its stake in Fulton Financial by 519.7% in the third quarter. Neo Ivy Capital Management now owns 20,040 shares of the bank’s stock worth $243,000 after buying an additional 16,806 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Fulton Financial by 0.4% in the third quarter. Northern Trust Corp now owns 1,879,238 shares of the bank’s stock worth $22,758,000 after buying an additional 8,292 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

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.