Fulton Financial (NASDAQ:FULT) Upgraded to “Buy” at Janney Montgomery Scott

Fulton Financial (NASDAQ:FULT) was upgraded by equities researchers at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Briefing.com reports. The firm presently has a $19.50 price objective on the bank’s stock. Janney Montgomery Scott’s price target points to a potential upside of 24.84% from the stock’s current price.

A number of other equities research analysts also recently weighed in on FULT. Keefe, Bruyette & Woods lifted their target price on 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 lowered their price objective on Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating on the stock in a research report on Thursday, April 18th. Jefferies Financial Group cut their target price on Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Finally, StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Friday. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.00.

Fulton Financial Stock Performance

NASDAQ FULT opened at $15.62 on Monday. The company’s fifty day moving average is $15.30 and its two-hundred day moving average is $15.05. Fulton Financial has a 52-week low of $9.64 and a 52-week high of $17.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 9.70 and a beta of 0.81.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in Fulton Financial by 82.8% during 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. SRS Capital Advisors Inc. grew its position in Fulton Financial by 0.9% during the 3rd quarter. SRS Capital Advisors Inc. now owns 92,173 shares of the bank’s stock worth $1,116,000 after acquiring an additional 864 shares during the last quarter. AlphaMark Advisors LLC grew its position in Fulton Financial by 5.3% during the 4th quarter. AlphaMark Advisors LLC now owns 19,714 shares of the bank’s stock worth $324,000 after acquiring an additional 993 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in Fulton Financial by 3.3% during the 3rd quarter. Miracle Mile Advisors LLC now owns 32,494 shares of the bank’s stock valued at $394,000 after purchasing an additional 1,048 shares in the last quarter. Finally, Meridian Wealth Partners LLC raised its position in Fulton Financial by 6.1% in the 3rd quarter. Meridian Wealth Partners LLC now owns 18,579 shares of the bank’s stock valued at $225,000 after purchasing an additional 1,075 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

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.