Raymond James & Associates Cuts Position in Fulton Financial Co. (NASDAQ:FULT)

Raymond James & Associates reduced its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,587 shares of the bank’s stock after selling 1,853 shares during the quarter. Raymond James & Associates’ holdings in Fulton Financial were worth $866,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. First Command Advisory Services Inc. purchased a new stake in shares of Fulton Financial during the third quarter valued at about $38,000. Blue Bell Private Wealth Management LLC grew its holdings in Fulton Financial by 81.0% in the third quarter. Blue Bell Private Wealth Management LLC now owns 4,881 shares of the bank’s stock worth $59,000 after purchasing an additional 2,184 shares during the last quarter. GW Henssler & Associates Ltd. acquired a new position in shares of Fulton Financial during the third quarter worth $124,000. Covestor Ltd lifted its holdings in shares of Fulton Financial by 23.9% during the 3rd quarter. Covestor Ltd now owns 10,309 shares of the bank’s stock valued at $125,000 after purchasing an additional 1,988 shares during the last quarter. Finally, CIC Wealth LLC acquired a new stake in shares of Fulton Financial in the 4th quarter worth $180,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Up 1.5 %

Shares of FULT stock opened at $15.21 on Tuesday. Fulton Financial Co. has a fifty-two week low of $9.64 and a fifty-two week high of $17.06. The firm has a market capitalization of $2.46 billion, a PE ratio of 9.45 and a beta of 0.81. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s 50-day simple moving average is $15.29 and its 200-day simple moving average is $14.96.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.68 annualized dividend and a yield of 4.47%. Fulton Financial’s dividend payout ratio (DPR) is presently 42.24%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FULT. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Stephens decreased their price objective on shares of Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a research report on Thursday, April 18th. Jefferies Financial Group lowered their target price on shares of 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, Keefe, Bruyette & Woods upped their price target on shares of Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Fulton Financial currently has a consensus rating of “Hold” and a consensus price target of $16.17.

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.