Fmr LLC Sells 1,366,852 Shares of Fulton Financial Co. (NASDAQ:FULT)

FMR LLC decreased its position in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 89.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 153,493 shares of the bank's stock after selling 1,366,852 shares during the quarter. FMR LLC owned 0.08% of Fulton Financial worth $2,783,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FULT. Family Firm Inc. bought a new stake in Fulton Financial during the second quarter worth about $46,000. Coston McIsaac & Partners acquired a new stake in Fulton Financial during the 3rd quarter valued at $54,000. Blue Trust Inc. raised its position in Fulton Financial by 21.9% in the 2nd quarter. Blue Trust Inc. now owns 3,840 shares of the bank's stock valued at $61,000 after purchasing an additional 691 shares during the last quarter. AE Wealth Management LLC acquired a new position in Fulton Financial in the second quarter worth $172,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Fulton Financial during the second quarter worth $178,000. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Trading Down 0.3 %

FULT stock traded down $0.07 during midday trading on Friday, reaching $20.94. The company's stock had a trading volume of 953,551 shares, compared to its average volume of 1,437,480. The business's 50-day simple moving average is $19.75 and its 200-day simple moving average is $18.43. The stock has a market cap of $3.81 billion, a PE ratio of 13.25 and a beta of 0.78. Fulton Financial Co. has a 52 week low of $13.87 and a 52 week high of $22.49. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The bank reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.06. The business had revenue of $487.33 million during the quarter, compared to analysts' expectations of $321.00 million. Fulton Financial had a return on equity of 11.33% and a net margin of 16.37%. During the same period in the previous year, the firm earned $0.43 earnings per share. As a group, sell-side analysts expect that Fulton Financial Co. will post 1.74 EPS for the current year.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.17 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.25%. Fulton Financial's dividend payout ratio is 43.04%.

Insider Buying and Selling

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the transaction, the chief executive officer now directly owns 155,946 shares in the company, valued at approximately $3,299,817.36. The trade was a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.07% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on FULT. Piper Sandler set a $21.00 price target on Fulton Financial in a report on Thursday, October 17th. Stephens upgraded shares of Fulton Financial from an "equal weight" rating to an "overweight" rating in a research report on Monday, December 9th. StockNews.com cut shares of Fulton Financial from a "hold" rating to a "sell" rating in a research note on Monday, November 11th. Finally, Keefe, Bruyette & Woods upped their price objective on Fulton Financial from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $19.50.

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.