Janney Montgomery Scott LLC Has $2.63 Million Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Janney Montgomery Scott LLC lessened its stake in Fulton Financial Co. (NASDAQ:FULT) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 144,866 shares of the bank’s stock after selling 2,927 shares during the quarter. Janney Montgomery Scott LLC owned about 0.08% of Fulton Financial worth $2,626,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Family Firm Inc. acquired a new position in shares of Fulton Financial in the second quarter worth approximately $46,000. Coston McIsaac & Partners bought a new position in Fulton Financial in the 3rd quarter worth approximately $54,000. Blue Trust Inc. increased its holdings in Fulton Financial by 21.9% during the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after acquiring an additional 691 shares during the period. Headlands Technologies LLC purchased a new position in Fulton Financial in the 1st quarter worth approximately $66,000. Finally, AE Wealth Management LLC bought a new position in Fulton Financial during the second quarter valued at approximately $172,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Trading Up 3.1 %

Shares of NASDAQ FULT opened at $21.28 on Tuesday. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 13.47 and a beta of 0.73. The business’s 50 day moving average price is $18.19 and its 200-day moving average price is $17.71. Fulton Financial Co. has a fifty-two week low of $13.27 and a fifty-two week high of $21.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.14%. The business had revenue of $487.33 million for the quarter, compared to analyst estimates of $321.00 million. During the same period in the previous year, the company earned $0.43 earnings per share. On average, sell-side analysts expect that Fulton Financial Co. will post 1.74 earnings per share for the current year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.20%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s dividend payout ratio is currently 43.04%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FULT. Piper Sandler set a $21.00 price target on Fulton Financial in a report on Thursday, October 17th. StockNews.com lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $18.83.

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.