Prudential Financial Inc. Reduces Position in Fulton Financial Co. (NASDAQ:FULT)

Prudential Financial Inc. decreased its position in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 34.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,419 shares of the bank's stock after selling 228,644 shares during the period. Prudential Financial Inc. owned about 0.23% of Fulton Financial worth $8,221,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of Fulton Financial during the third quarter worth about $763,000. Charles Schwab Investment Management Inc. lifted its holdings in Fulton Financial by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,358,099 shares of the bank's stock worth $42,752,000 after buying an additional 31,754 shares in the last quarter. Citigroup Inc. grew its stake in shares of Fulton Financial by 7.6% in the third quarter. Citigroup Inc. now owns 404,878 shares of the bank's stock worth $7,340,000 after acquiring an additional 28,539 shares in the last quarter. Cerity Partners LLC increased its position in shares of Fulton Financial by 28.0% during the third quarter. Cerity Partners LLC now owns 49,399 shares of the bank's stock worth $896,000 after acquiring an additional 10,820 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Fulton Financial in the third quarter valued at $426,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Price Performance

NASDAQ:FULT traded down $1.70 during trading hours on Thursday, hitting $16.24. The company's stock had a trading volume of 2,390,964 shares, compared to its average volume of 1,492,579. The company has a market capitalization of $2.96 billion, a PE ratio of 10.34 and a beta of 0.76. Fulton Financial Co. has a 52-week low of $13.87 and a 52-week high of $22.49. The business's 50-day moving average is $19.24 and its two-hundred day moving average is $19.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90.

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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, beating analysts' consensus estimates 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 in the previous year, the firm earned $0.42 earnings per share. As a group, research analysts anticipate that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.43%. Fulton Financial's payout ratio is 45.86%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Fulton Financial

In related 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.07% of the stock is owned by corporate insiders.

About Fulton Financial

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.