Kennondale Capital Management LLC acquired a new position in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 28,942 shares of the bank's stock, valued at approximately $558,000.
Several other institutional investors also recently modified their holdings of FULT. Jones Financial Companies Lllp grew its holdings in shares of Fulton Financial by 193.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock worth $25,000 after purchasing an additional 853 shares in the last quarter. Quarry LP acquired a new stake in Fulton Financial in the 3rd quarter valued at $33,000. McClarren Financial Advisors Inc. acquired a new stake in Fulton Financial in the 4th quarter valued at $44,000. Blue Trust Inc. boosted its stake in Fulton Financial by 10.3% in the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock valued at $99,000 after buying an additional 509 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in Fulton Financial by 16,041.2% in the 4th quarter. AlphaQuest LLC now owns 5,488 shares of the bank's stock valued at $106,000 after buying an additional 5,454 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. StockNews.com raised Fulton Financial from a "sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Hovde Group boosted their price target on Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a research note on Monday, January 27th. DA Davidson boosted 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. Stephens upgraded Fulton Financial from an "equal weight" rating to an "overweight" rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on Fulton Financial from $23.00 to $24.00 and gave the company a "market perform" rating in a research report on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $20.64.
Check Out Our Latest Stock Report on Fulton Financial
Fulton Financial Price Performance
FULT traded down $0.14 during trading on Friday, hitting $18.02. The company's stock had a trading volume of 5,411,143 shares, compared to its average volume of 1,401,305. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 11.48 and a beta of 0.76. Fulton Financial Co. has a 12 month low of $13.87 and a 12 month high of $22.49. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. The firm's 50 day moving average price is $19.71 and its two-hundred day moving average price is $19.42.
Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same quarter in the prior year, the company earned $0.42 earnings per share. Sell-side analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.
Fulton Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.00%. Fulton Financial's payout ratio is currently 45.86%.
Insider Transactions at Fulton Financial
In other news, President Angela M. Snyder sold 13,322 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares in the company, valued at $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.07% of the stock is currently owned by corporate insiders.
Fulton Financial Profile
(
Free Report)
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.
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