Allworth Financial LP Buys 18,877 Shares of Fulton Financial Co. (NASDAQ:FULT)

Allworth Financial LP boosted its position in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 1,255.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,381 shares of the bank's stock after buying an additional 18,877 shares during the quarter. Allworth Financial LP's holdings in Fulton Financial were worth $420,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of FULT. Quarry LP acquired a new stake in shares of Fulton Financial in the third quarter valued at about $33,000. McClarren Financial Advisors Inc. bought a new stake in Fulton Financial during the 4th quarter valued at approximately $44,000. Blue Trust Inc. grew its holdings in Fulton Financial by 28.8% in the 3rd quarter. Blue Trust Inc. now owns 4,946 shares of the bank's stock valued at $84,000 after buying an additional 1,106 shares during the last quarter. TD Private Client Wealth LLC increased its position 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 worth $118,000 after buying an additional 676 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Fulton Financial by 69.3% during the fourth quarter. KBC Group NV now owns 8,517 shares of the bank's stock worth $164,000 after buying an additional 3,487 shares during the last quarter. Institutional investors own 72.02% of the company's stock.

Fulton Financial Price Performance

NASDAQ:FULT traded down $0.45 during mid-day trading on Friday, hitting $19.68. The company's stock had a trading volume of 966,316 shares, compared to its average volume of 1,339,206. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 12.54 and a beta of 0.79. 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 Co. has a fifty-two week low of $13.87 and a fifty-two week high of $22.49. The stock has a fifty day moving average of $20.16 and a 200-day moving average of $19.36.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its 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 return on equity of 11.41% and a net margin of 15.87%. During the same period in the previous year, the firm posted $0.42 earnings per share. As a group, equities analysts forecast that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Increases Dividend

The company 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 annualized dividend and a dividend yield of 3.66%. 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 payout ratio is currently 45.86%.

Wall Street Analyst Weigh In

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

Insider Transactions at Fulton Financial

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.69, for a total value of $275,632.18. Following the transaction, the president now directly owns 63,682 shares in the company, valued at $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Curtis J. Myers sold 24,192 shares of the firm'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 transaction of $511,902.72. Following the sale, the chief executive officer now directly owns 155,946 shares of the company's stock, valued at approximately $3,299,817.36. The trade was a 13.43 % decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

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.