Raymond James Financial Inc. Acquires Shares of 86,940 Fulton Financial Co. (NASDAQ:FULT)

Raymond James Financial Inc. bought a new position in Fulton Financial Co. (NASDAQ:FULT) in the 4th quarter, Holdings Channel reports. The firm bought 86,940 shares of the bank’s stock, valued at approximately $1,676,000.

Several other institutional investors have also recently made changes to their positions in FULT. Jones Financial Companies Lllp boosted its holdings in Fulton Financial by 193.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock valued at $25,000 after acquiring an additional 853 shares during the period. Quarry LP bought a new stake in shares of Fulton Financial during the third quarter worth $33,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Fulton Financial during the fourth quarter valued at $44,000. Blue Trust Inc. grew its holdings in shares of Fulton Financial by 10.3% in the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank’s stock worth $99,000 after purchasing an additional 509 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Fulton Financial by 11.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock worth $118,000 after buying an additional 676 shares during the period. Institutional investors own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FULT. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Hovde Group increased their price objective on Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. DA Davidson upped their target price on Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised their price target on Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.64.

Fulton Financial Trading Up 0.7 %

Shares of NASDAQ:FULT opened at $18.09 on Tuesday. The company has a market capitalization of $3.30 billion, a PE ratio of 11.52 and a beta of 0.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a 12-month low of $13.87 and a 12-month high of $22.49. The business’s fifty day simple moving average is $19.45 and its 200-day simple moving average is $19.45.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period last year, the firm earned $0.42 EPS. As a group, equities research analysts predict that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 3.98%. Fulton Financial’s payout ratio is 45.86%.

Insider Buying and Selling at Fulton Financial

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares of the company’s stock, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.07% of the stock is owned by insiders.

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.