Fulton Bank N.A. Sells 16,235 Shares of Fulton Financial Co. (NASDAQ:FULT)

Fulton Bank N.A. lowered its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,041,604 shares of the bank’s stock after selling 16,235 shares during the period. Fulton Financial makes up 1.5% of Fulton Bank N.A.’s portfolio, making the stock its 15th biggest position. Fulton Bank N.A.’s holdings in Fulton Financial were worth $39,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Fulton Financial in the 3rd quarter valued at approximately $33,000. Coston McIsaac & Partners bought a new stake in Fulton Financial in the third quarter valued at approximately $54,000. Blue Trust Inc. raised its holdings in 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 purchasing an additional 1,106 shares during the period. TD Private Client Wealth LLC boosted 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, AE Wealth Management LLC acquired a new position in shares of Fulton Financial in the 2nd quarter valued at $172,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at Fulton Financial

In related news, CEO Curtis J. Myers sold 24,192 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.07% of the company’s stock.

Fulton Financial Stock Up 0.5 %

Shares of NASDAQ:FULT traded up $0.10 during mid-day trading on Wednesday, reaching $19.38. 327,073 shares of the stock were exchanged, compared to its average volume of 1,080,007. The company has a market cap of $3.53 billion, a P/E ratio of 12.27 and a beta of 0.79. The stock’s 50 day simple moving average is $20.37 and its 200-day simple moving average is $18.84. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a one year low of $13.87 and a one year high of $22.49.

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

Fulton Financial Increases Dividend

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

Fulton Financial 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.