Comprehensive Financial Planning Inc. PA Acquires New Stake in Fulton Financial Co. (NASDAQ:FULT)

Comprehensive Financial Planning Inc. PA acquired a new stake 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 SEC. The firm acquired 15,596 shares of the bank's stock, valued at approximately $301,000.

Other hedge funds also recently modified their holdings of the company. Emerald Advisers LLC lifted its holdings in Fulton Financial by 213.6% during the 3rd quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank's stock worth $23,706,000 after buying an additional 890,630 shares during the period. Emerald Mutual Fund Advisers Trust lifted its holdings in Fulton Financial by 272.2% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank's stock worth $15,622,000 after buying an additional 630,152 shares during the period. State Street Corp lifted its holdings in Fulton Financial by 4.4% during the 3rd quarter. State Street Corp now owns 10,544,159 shares of the bank's stock worth $191,166,000 after buying an additional 444,219 shares during the period. JPMorgan Chase & Co. lifted its holdings in Fulton Financial by 130.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank's stock worth $10,104,000 after buying an additional 315,435 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new position in Fulton Financial during the 3rd quarter worth about $3,489,000. Institutional investors and hedge funds own 72.02% of the company's stock.

Insider Buying and Selling at Fulton Financial

In other news, CEO Curtis J. Myers sold 24,192 shares of the business's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the transaction, the chief executive officer now owns 155,946 shares in the company, valued at $3,299,817.36. The trade was a 13.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Angela M. Snyder sold 13,322 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 1.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com raised Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. DA Davidson lifted their price objective on Fulton Financial from $21.00 to $22.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Piper Sandler set a $21.00 price objective on Fulton Financial in a research report on Thursday, October 17th. Hovde Group lifted their price objective on Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods lifted their price objective on Fulton Financial from $23.00 to $24.00 and gave the stock a "market perform" rating in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Fulton Financial has a consensus rating of "Hold" and a consensus price target of $20.64.

Fulton Financial Stock Up 1.2 %

Fulton Financial stock traded up $0.25 during midday trading on Thursday, reaching $20.64. The stock had a trading volume of 1,002,408 shares, compared to its average volume of 1,428,169. Fulton Financial Co. has a 12 month low of $13.87 and a 12 month high of $22.49. The company has a market capitalization of $3.76 billion, a P/E ratio of 13.15 and a beta of 0.79. The company has a fifty day moving average price of $20.21 and a two-hundred day moving average price of $19.30. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32.

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

Fulton Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a yield of 3.49%. This is an increase from Fulton Financial's previous quarterly dividend of $0.17. Fulton Financial's payout ratio is 45.86%.

About Fulton Financial

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.