Fulton Financial Co. (NASDAQ:FULT) Shares Purchased by Allworth Financial LP

Allworth Financial LP boosted its holdings in Fulton Financial Co. (NASDAQ:FULT) by 1,255.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,381 shares of the bank’s stock after acquiring an additional 18,877 shares during the period. Allworth Financial LP’s holdings in Fulton Financial were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Fulton Financial in the 3rd quarter valued at about $33,000. McClarren Financial Advisors Inc. acquired a new stake in Fulton Financial in the 4th quarter valued at about $44,000. Blue Trust Inc. grew its stake in Fulton Financial by 28.8% in the 3rd quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock valued at $84,000 after acquiring an additional 1,106 shares during the last quarter. TD Private Client Wealth LLC grew 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 valued at $118,000 after acquiring an additional 676 shares during the last quarter. Finally, KBC Group NV grew its stake in Fulton Financial by 69.3% in the 4th quarter. KBC Group NV now owns 8,517 shares of the bank’s stock valued at $164,000 after acquiring an additional 3,487 shares during the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity at Fulton Financial

In related news, President Angela M. Snyder sold 13,322 shares of the firm’s 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 in the company, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial 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 sale, the chief executive officer now owns 155,946 shares in the company, valued at $3,299,817.36. This represents a 13.43 % decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.

Fulton Financial Trading Down 2.7 %

Shares of FULT stock opened at $20.13 on Friday. The firm has a market cap of $3.66 billion, a P/E ratio of 12.82 and a beta of 0.79. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50-day simple moving average is $20.16 and its 200-day simple moving average is $19.36.

Fulton Financial (NASDAQ:FULT) last posted its quarterly 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 last year, the business earned $0.42 EPS. As a group, equities analysts forecast that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.18 dividend. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, December 31st. This represents a $0.72 annualized dividend and a yield of 3.58%. Fulton Financial’s dividend payout ratio (DPR) is presently 45.86%.

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.