Good Life Advisors LLC Sells 22,717 Shares of Fulton Financial Co. (NASDAQ:FULT)

Good Life Advisors LLC lowered its holdings in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 49.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,055 shares of the bank's stock after selling 22,717 shares during the period. Good Life Advisors LLC's holdings in Fulton Financial were worth $444,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FULT. Quarry LP bought a new stake in shares of Fulton Financial in the 3rd quarter valued at approximately $33,000. McClarren Financial Advisors Inc. bought a new stake in Fulton Financial in the fourth quarter valued at $44,000. Blue Trust Inc. grew its position in Fulton Financial by 28.8% in the third quarter. Blue Trust Inc. now owns 4,946 shares of the bank's stock valued at $84,000 after acquiring an additional 1,106 shares during the period. TD Private Client Wealth LLC raised its stake in Fulton Financial by 11.6% during the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank's stock worth $118,000 after acquiring an additional 676 shares in the last quarter. 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 valued at $164,000 after acquiring an additional 3,487 shares during the period. Institutional investors own 72.02% of the company's stock.

Insider Buying and Selling at Fulton Financial

In other news, CEO Curtis J. Myers sold 24,192 shares of the firm's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the transaction, the chief executive officer now directly owns 155,946 shares in the company, valued at $3,299,817.36. This trade represents a 13.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction on Monday, January 27th. The stock was 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 of the company's stock, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FULT. Stephens raised shares of Fulton Financial from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. DA Davidson upped their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Hovde Group lifted their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a research note on Monday, January 27th. StockNews.com upgraded Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $20.64.

Fulton Financial Price Performance

Shares of Fulton Financial stock traded down $0.45 during midday trading on Friday, reaching $19.68. The company had a trading volume of 966,316 shares, compared to its average volume of 1,339,206. The stock has a fifty day simple moving average of $20.16 and a 200 day simple moving average of $19.36. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 12.54 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT - Get Free Report) last released its earnings results on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, beating the consensus estimate 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 company posted $0.42 earnings per share. As a group, equities research analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 an increase from Fulton Financial's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 3.66%. Fulton Financial's dividend payout ratio is presently 45.86%.

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.