Dana Investment Advisors Inc. Cuts Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Dana Investment Advisors Inc. decreased its holdings in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,115 shares of the bank's stock after selling 20,804 shares during the period. Dana Investment Advisors Inc. owned about 0.09% of Fulton Financial worth $3,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in Fulton Financial by 193.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock valued at $25,000 after purchasing an additional 853 shares during the last quarter. Quarry LP acquired a new position in Fulton Financial during the third quarter worth $33,000. McClarren Financial Advisors Inc. acquired a new position in shares of Fulton Financial during the 4th quarter worth approximately $44,000. Blue Trust Inc. lifted its stake in shares of Fulton Financial by 10.3% during the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock worth $99,000 after buying an additional 509 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in Fulton Financial by 11.6% in the 3rd 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 Activity

In related news, President Angela M. Snyder sold 13,322 shares of Fulton Financial 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 sale, the president now owns 63,682 shares of the company's stock, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.07% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Fulton Financial Price Performance

Shares of FULT stock traded down $0.42 on Monday, hitting $17.98. 93,485 shares of the stock traded hands, compared to its average volume of 1,382,297. The firm has a 50 day simple moving average of $20.00 and a two-hundred day simple moving average of $19.51. Fulton Financial Co. has a 52 week low of $13.87 and a 52 week high of $22.49. 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 firm has a market cap of $3.28 billion, a price-to-earnings ratio of 11.48 and a beta of 0.76.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, beating 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 period last year, the business earned $0.42 EPS. As a group, equities research analysts predict 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 paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Fulton Financial's previous quarterly dividend of $0.17. Fulton Financial's dividend payout ratio (DPR) is currently 45.86%.

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.