Cibc World Markets Corp Makes New $328,000 Investment in Fulton Financial Co. (NASDAQ:FULT)

Cibc World Markets Corp bought a new position in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,994 shares of the bank's stock, valued at approximately $328,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its stake 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 acquiring an additional 853 shares in the last quarter. Quarry LP purchased a new position in Fulton Financial in the 3rd quarter worth about $33,000. McClarren Financial Advisors Inc. acquired a new stake in Fulton Financial during the 4th quarter worth about $44,000. Blue Trust Inc. lifted its stake in Fulton Financial by 10.3% during the fourth 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 holdings in shares of Fulton Financial by 16,041.2% in the fourth quarter. AlphaQuest LLC now owns 5,488 shares of the bank's stock worth $106,000 after buying an additional 5,454 shares during the period. 72.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FULT has been the topic of a number of recent analyst reports. DA Davidson boosted 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. Stephens upgraded Fulton Financial from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. Keefe, Bruyette & Woods lifted their price target on Fulton Financial from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Thursday, January 23rd. Hovde Group increased their price objective 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, StockNews.com raised Fulton Financial from a "sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $20.64.

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Fulton Financial Stock Down 1.6 %

FULT traded down $0.29 during trading on Friday, reaching $17.97. 957,934 shares of the stock traded hands, compared to its average volume of 1,482,832. The stock's 50-day simple moving average is $19.56 and its two-hundred day simple moving average is $19.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. Fulton Financial Co. has a fifty-two week low of $13.87 and a fifty-two week high of $22.49. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 11.45 and a beta of 0.76.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the business posted $0.42 earnings per share. As a group, equities research analysts expect that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Tuesday, April 1st. Fulton Financial's payout ratio is 45.86%.

Insider Buying and Selling at Fulton Financial

In other news, President Angela M. Snyder sold 13,322 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the transaction, the president now owns 63,682 shares of the company's stock, valued at approximately $1,317,580.58. This represents a 17.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.