Legato Capital Management LLC Has $1.23 Million Stake in Fulton Financial Co. (NASDAQ:FULT)

Legato Capital Management LLC grew its holdings in Fulton Financial Co. (NASDAQ:FULT) by 498.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,641 shares of the bank’s stock after purchasing an additional 52,998 shares during the quarter. Legato Capital Management LLC’s holdings in Fulton Financial were worth $1,227,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Quarry LP acquired a new position in Fulton Financial during the 3rd quarter worth about $33,000. Coston McIsaac & Partners bought a new position in shares of Fulton Financial in the third quarter worth about $54,000. Blue Trust Inc. raised its stake in shares of Fulton Financial by 28.8% in the third quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock worth $84,000 after acquiring an additional 1,106 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of Fulton Financial by 11.6% during the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock worth $118,000 after purchasing an additional 676 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Fulton Financial by 69.3% during the fourth quarter. KBC Group NV now owns 8,517 shares of the bank’s stock valued at $164,000 after purchasing an additional 3,487 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

Wall Street Analyst Weigh In

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

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 that occurred on Monday, January 27th. The shares were sold at an average price of $20.69, for a total value of $275,632.18. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the chief executive officer now owns 155,946 shares of the company’s stock, valued at $3,299,817.36. This trade represents a 13.43 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Fulton Financial Price Performance

Fulton Financial stock opened at $20.39 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.71 billion, a P/E ratio of 12.99 and a beta of 0.79. The business has a 50-day moving average of $20.22 and a 200-day moving average of $19.29. Fulton Financial Co. has a 1 year low of $13.87 and a 1 year high of $22.49.

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

Fulton Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, December 31st. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 3.53%. Fulton Financial’s payout ratio is currently 45.86%.

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.