Janney Montgomery Scott LLC Sells 22,450 Shares of Fulton Financial Co. (NASDAQ:FULT)

Janney Montgomery Scott LLC trimmed its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 13.5% in the first quarter, Holdings Channel.com reports. The fund owned 144,014 shares of the bank’s stock after selling 22,450 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Fulton Financial were worth $2,288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morton Brown Family Wealth LLC bought a new position in shares of Fulton Financial during the 4th quarter worth about $26,000. Blue Trust Inc. lifted its holdings in shares of Fulton Financial by 82.8% during the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after acquiring an additional 781 shares during the period. Strs Ohio acquired a new stake in shares of Fulton Financial during the 4th quarter worth about $29,000. Disciplined Equity Management Inc. acquired a new stake in shares of Fulton Financial during the 4th quarter worth about $32,000. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of Fulton Financial during the 4th quarter worth about $38,000. 72.02% of the stock is owned by institutional investors.

Fulton Financial Stock Performance

Shares of FULT opened at $17.41 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 0.93. Fulton Financial Co. has a twelve month low of $11.63 and a twelve month high of $17.68. The firm’s 50 day moving average price is $16.70 and its two-hundred day moving average price is $16.01. The firm has a market cap of $3.16 billion, a P/E ratio of 10.81 and a beta of 0.75.

Fulton Financial (NASDAQ:FULT) last announced 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. Fulton Financial had a net margin of 18.31% and a return on equity of 11.73%. The firm had revenue of $230.36 million for the quarter, compared to analyst estimates of $268.90 million. On average, analysts forecast that Fulton Financial Co. will post 1.57 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.17 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.91%. Fulton Financial’s dividend payout ratio (DPR) is presently 42.24%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FULT. DA Davidson increased their target price on shares of Fulton Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. Jefferies Financial Group lowered their price target on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Janney Montgomery Scott upgraded shares of Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price target for the company in a research report on Monday, April 29th. StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Fulton Financial from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.40.

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.