Intech Investment Management LLC Buys 42,533 Shares of Fulton Financial Co. (NASDAQ:FULT)

Intech Investment Management LLC boosted its holdings in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 101.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 84,618 shares of the bank's stock after acquiring an additional 42,533 shares during the period. Intech Investment Management LLC's holdings in Fulton Financial were worth $1,631,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FULT. Jones Financial Companies Lllp increased its holdings in Fulton Financial by 193.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock valued at $25,000 after purchasing an additional 853 shares during the last quarter. Quarry LP bought a new stake in shares of Fulton Financial in the 3rd quarter valued at about $33,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Fulton Financial in the 4th quarter valued at approximately $44,000. Blue Trust Inc. grew its holdings in Fulton Financial by 10.3% during the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock valued at $99,000 after purchasing an additional 509 shares during the period. Finally, AlphaQuest LLC grew its holdings in Fulton Financial by 16,041.2% during the fourth quarter. AlphaQuest LLC now owns 5,488 shares of the bank's stock valued at $106,000 after purchasing an additional 5,454 shares during the period. Institutional investors and hedge funds own 72.02% of the company's stock.

Fulton Financial Stock Up 0.4 %

Shares of NASDAQ FULT traded up $0.08 during mid-day trading on Wednesday, hitting $18.38. The company had a trading volume of 1,088,460 shares, compared to its average volume of 1,404,491. Fulton Financial Co. has a one year low of $13.87 and a one year high of $22.49. The company has a market capitalization of $3.35 billion, a PE ratio of 11.71 and a beta of 0.76. 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 firm has a 50-day simple moving average of $19.65 and a two-hundred day simple moving average of $19.43.

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Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, topping 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 quarter last year, the business posted $0.42 EPS. On average, equities analysts expect that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Tuesday, April 1st. Fulton Financial's dividend payout ratio is currently 45.86%.

Insider Transactions at Fulton Financial

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

Wall Street Analysts Forecast Growth

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

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.