Fulton Bank N.A. Has $39.36 Million Holdings in Fulton Financial Co. (NASDAQ:FULT)

Fulton Bank N.A. decreased its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,041,604 shares of the bank’s stock after selling 16,235 shares during the period. Fulton Financial accounts for 1.5% of Fulton Bank N.A.’s investment portfolio, making the stock its 15th biggest holding. Fulton Bank N.A. owned approximately 1.12% of Fulton Financial worth $39,362,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FULT. Quarry LP acquired a new stake in Fulton Financial in the 3rd quarter worth $33,000. Coston McIsaac & Partners bought a new stake in shares of Fulton Financial in the third quarter valued at about $54,000. Blue Trust Inc. grew its position in Fulton Financial by 28.8% during the third quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock worth $84,000 after buying an additional 1,106 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Fulton Financial by 11.6% during the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after acquiring an additional 676 shares during the period. Finally, AE Wealth Management LLC acquired a new position in Fulton Financial in the 2nd quarter valued at approximately $172,000. 72.02% of the stock is currently owned by institutional investors.

Insider Transactions at Fulton Financial

In other news, CEO Curtis J. Myers sold 24,192 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction of $511,902.72. Following the transaction, the chief executive officer now directly owns 155,946 shares in the company, valued at approximately $3,299,817.36. This represents a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.07% of the company’s stock.

Fulton Financial Price Performance

Shares of NASDAQ:FULT traded up $0.10 on Wednesday, hitting $19.38. The stock had a trading volume of 327,073 shares, compared to its average volume of 1,080,007. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 12.27 and a beta of 0.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50 day moving average price is $20.37 and its 200-day moving average price is $18.84. Fulton Financial Co. has a twelve month low of $13.87 and a twelve month high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. The firm had revenue of $487.33 million for the quarter, compared to analysts’ expectations of $321.00 million. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, equities research analysts predict that Fulton Financial Co. will post 1.73 earnings per share for the current year.

Fulton Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a yield of 3.72%. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.17. Fulton Financial’s payout ratio is currently 45.57%.

Analyst Ratings Changes

Several analysts have recently weighed in on FULT shares. StockNews.com lowered Fulton Financial from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods boosted their price target on shares of Fulton Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler set a $21.00 price objective on shares of Fulton Financial in a report on Thursday, October 17th. Finally, Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.50.

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.