Apollon Wealth Management LLC Makes New Investment in Fulton Financial Co. (NASDAQ:FULT)

Apollon Wealth Management LLC purchased a new position in Fulton Financial Co. (NASDAQ:FULT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 17,046 shares of the bank's stock, valued at approximately $329,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB grew its stake in Fulton Financial by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 567,790 shares of the bank's stock worth $11,007,000 after buying an additional 34,844 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Fulton Financial by 130.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank's stock worth $10,104,000 after acquiring an additional 315,435 shares during the last quarter. EMC Capital Management lifted its holdings in shares of Fulton Financial by 151.2% in the 4th quarter. EMC Capital Management now owns 22,607 shares of the bank's stock worth $436,000 after acquiring an additional 13,607 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Fulton Financial in the 3rd quarter worth approximately $3,489,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Fulton Financial by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank's stock worth $79,264,000 after acquiring an additional 85,574 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.

Wall Street Analyst Weigh In

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

Fulton Financial Price Performance

Shares of FULT stock traded up $0.35 on Tuesday, reaching $20.89. The company's stock had a trading volume of 155,471 shares, compared to its average volume of 1,358,981. The stock's fifty day simple moving average is $20.19 and its 200-day simple moving average is $19.32. Fulton Financial Co. has a 1 year low of $13.87 and a 1 year high of $22.49. 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 company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 13.30 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, topping 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 quarter last year, the business earned $0.42 earnings per share. Analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.45%. This is an increase from Fulton Financial's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, December 31st. Fulton Financial's dividend payout ratio (DPR) is 45.86%.

Insider Transactions at Fulton Financial

In related news, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the sale, the chief executive officer now directly owns 155,946 shares in the company, valued at $3,299,817.36. The trade was a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares of the company's stock, valued at $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company's stock.

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.