Trexquant Investment LP Increases Stake in Fulton Financial Co. (NASDAQ:FULT)

Trexquant Investment LP grew its holdings in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 468.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 420,930 shares of the bank's stock after buying an additional 346,933 shares during the quarter. Trexquant Investment LP owned 0.23% of Fulton Financial worth $8,116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FULT. Nordea Investment Management AB boosted its holdings 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Fulton Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank's stock worth $45,837,000 after acquiring an additional 19,329 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Fulton Financial by 130.4% during the third quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank's stock worth $10,104,000 after purchasing an additional 315,435 shares in the last quarter. EMC Capital Management increased its position in shares of Fulton Financial by 151.2% during the fourth quarter. EMC Capital Management now owns 22,607 shares of the bank's stock worth $436,000 after purchasing an additional 13,607 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Fulton Financial by 1,255.1% in the 4th quarter. Allworth Financial LP now owns 20,381 shares of the bank's stock valued at $420,000 after purchasing an additional 18,877 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FULT. Hovde Group boosted their target price on Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a report on Monday, January 27th. DA Davidson upped their price objective 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. Keefe, Bruyette & Woods lifted their target price on shares of 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, StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Five investment 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 a consensus rating of "Hold" and a consensus price target of $20.64.

Fulton Financial Stock Up 6.9 %

Shares of NASDAQ FULT traded up $1.05 during midday trading on Wednesday, hitting $16.27. The company's stock had a trading volume of 2,712,068 shares, compared to its average volume of 1,522,598. 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 1 year low of $13.87 and a 1 year high of $22.49. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 10.36 and a beta of 0.68. The business's fifty day simple moving average is $18.65 and its two-hundred day simple moving average is $19.30.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, topping 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 quarter in the prior year, the firm earned $0.42 earnings per share. On average, equities analysts predict that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 4.43%. The ex-dividend date of this dividend is Tuesday, April 1st. Fulton Financial's dividend payout ratio (DPR) is presently 45.86%.

Insider Transactions at Fulton Financial

In other news, President Angela M. Snyder sold 13,322 shares of Fulton Financial 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 sale, the president now owns 63,682 shares in the company, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.07% of the company's stock.

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.