Janney Montgomery Scott LLC Boosts Stake in Fulton Financial Co. (NASDAQ:FULT)

Janney Montgomery Scott LLC lifted its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 166,464 shares of the bank’s stock after acquiring an additional 8,430 shares during the quarter. Janney Montgomery Scott LLC owned 0.10% of Fulton Financial worth $2,740,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Illinois Municipal Retirement Fund acquired a new stake in shares of Fulton Financial during the third quarter worth $1,163,000. Barclays PLC increased its holdings in shares of Fulton Financial by 2.0% in the third quarter. Barclays PLC now owns 326,770 shares of the bank’s stock valued at $3,957,000 after buying an additional 6,314 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of Fulton Financial during the third quarter valued at approximately $38,000. Charles Schwab Investment Management Inc. lifted its position in shares of Fulton Financial by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,961,441 shares of the bank’s stock valued at $23,753,000 after acquiring an additional 117,935 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Fulton Financial by 5.6% in the 3rd quarter. HighTower Advisors LLC now owns 56,876 shares of the bank’s stock worth $689,000 after purchasing an additional 3,024 shares during the period. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Stock Performance

NASDAQ FULT opened at $16.76 on Friday. The company’s 50-day simple moving average is $16.00 and its 200 day simple moving average is $15.63. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.35. The stock has a market cap of $3.05 billion, a P/E ratio of 10.41 and a beta of 0.77. Fulton Financial Co. has a twelve month low of $10.99 and a twelve month high of $17.68.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $230.36 million during the quarter, compared to analysts’ expectations of $268.90 million. Fulton Financial had a return on equity of 11.73% and a net margin of 18.31%. As a group, research analysts forecast that Fulton Financial Co. will post 1.52 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.06%. The ex-dividend date was Thursday, March 28th. Fulton Financial’s payout ratio is 42.24%.

Wall Street Analysts Forecast Growth

FULT has been the subject of a number of research analyst reports. Stephens increased their target price on shares of Fulton Financial from $15.50 to $17.50 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. StockNews.com lowered Fulton Financial from a “hold” rating to a “sell” rating in a report on Friday, April 26th. 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 report on Monday, April 8th. Keefe, Bruyette & Woods boosted their price objective on Fulton Financial from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 30th. Finally, DA Davidson upped their price target on Fulton Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, April 30th. One equities research 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. According to MarketBeat, Fulton Financial has a consensus rating of “Hold” and a consensus price target of $18.00.

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.