Berkshire Asset Management LLC PA Buys Shares of 26,191 Fulton Financial Co. (NASDAQ:FULT)

Berkshire Asset Management LLC PA bought a new position in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 26,191 shares of the bank's stock, valued at approximately $538,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in Fulton Financial by 193.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock worth $25,000 after buying an additional 853 shares during the last quarter. Quarry LP bought a new position in Fulton Financial during the third quarter worth about $33,000. McClarren Financial Advisors Inc. bought a new position in Fulton Financial during the fourth quarter worth about $44,000. Blue Trust Inc. increased its stake in shares of Fulton Financial by 10.3% in the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock worth $99,000 after purchasing an additional 509 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its position in shares of Fulton Financial by 11.6% in the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank's stock valued at $118,000 after purchasing an additional 676 shares during the period. 72.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fulton Financial

In related news, 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 transaction of $275,632.18. Following the completion of the transaction, the president now directly owns 63,682 shares of the company's stock, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.07% of the company's stock.

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Wall Street Analyst Weigh In

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

Fulton Financial Trading Down 0.3 %

NASDAQ:FULT traded down $0.06 during trading hours on Friday, hitting $18.40. The company had a trading volume of 1,344,999 shares, compared to its average volume of 1,387,279. 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 stock has a 50-day moving average price of $20.00 and a 200 day moving average price of $19.51. The company has a market capitalization of $3.35 billion, a PE ratio of 11.72 and a beta of 0.76. Fulton Financial Co. has a 52 week low of $13.87 and a 52 week high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company earned $0.42 earnings per share. On average, equities research analysts predict that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.18 dividend. This is an increase from Fulton Financial's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a yield of 3.91%. Fulton Financial's dividend payout ratio is 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.