Bank of New York Mellon Corp Sells 888,442 Shares of Fulton Financial Co. (NASDAQ:FULT)

Bank of New York Mellon Corp lessened its holdings in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 32.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,881,863 shares of the bank's stock after selling 888,442 shares during the period. Bank of New York Mellon Corp owned 1.03% of Fulton Financial worth $36,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its holdings in Fulton Financial by 4.4% in the third quarter. State Street Corp now owns 10,544,159 shares of the bank's stock valued at $191,166,000 after acquiring an additional 444,219 shares during the last quarter. Geode Capital Management LLC grew its stake in Fulton Financial by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank's stock valued at $79,264,000 after acquiring an additional 85,574 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Fulton Financial by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,358,099 shares of the bank's stock worth $42,752,000 after acquiring an additional 31,754 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Fulton Financial by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 1,908,477 shares of the bank's stock valued at $34,601,000 after purchasing an additional 77,072 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Fulton Financial by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,051,823 shares of the bank's stock worth $20,279,000 after purchasing an additional 44,237 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, President Angela M. Snyder sold 13,322 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares of the company's stock, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. DA Davidson raised their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Hovde Group upped 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. Keefe, Bruyette & Woods lifted their target price on Fulton Financial from $23.00 to $24.00 and gave the company a "market perform" rating in a research report on Thursday, January 23rd. StockNews.com upgraded Fulton Financial from a "sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Finally, Stephens raised shares of Fulton Financial from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th. 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.com, Fulton Financial currently has a consensus rating of "Hold" and an average target price of $20.64.

Fulton Financial Price Performance

Shares of FULT stock traded down $0.29 during trading hours on Monday, reaching $18.11. The company's stock had a trading volume of 34,520 shares, compared to its average volume of 1,381,958. The company has a quick ratio of 0.90, a current 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 company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 11.55 and a beta of 0.76. The firm's 50 day simple moving average is $20.00 and its 200-day simple moving average is $19.51.

Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its quarterly earnings data 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 quarter in the prior year, the business earned $0.42 earnings per share. Sell-side analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, December 31st. This is a boost from Fulton Financial's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 3.97%. Fulton Financial's dividend payout ratio is 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.