KLP Kapitalforvaltning AS Acquires Shares of 35,900 Fulton Financial Co. (NASDAQ:FULT)

KLP Kapitalforvaltning AS acquired a new stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,900 shares of the bank's stock, valued at approximately $698,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of 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 acquiring an additional 509 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in Fulton Financial by 0.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 91,464 shares of the bank's stock worth $1,763,000 after purchasing an additional 523 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in Fulton Financial by 11.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank's stock worth $118,000 after purchasing an additional 676 shares during the period. HighTower Advisors LLC raised its position in Fulton Financial by 1.4% during the 4th quarter. HighTower Advisors LLC now owns 63,321 shares of the bank's stock valued at $1,221,000 after purchasing an additional 849 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Fulton Financial by 193.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock worth $25,000 after buying an additional 853 shares during the period. Hedge funds and other institutional investors own 72.02% of the company's stock.

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Insider Buying and Selling at Fulton Financial

In other news, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction 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 directly owns 63,682 shares in the company, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.07% of the stock is currently owned by company insiders.

Fulton Financial Stock Down 6.8 %

Shares of Fulton Financial stock traded down $1.11 on Friday, reaching $15.13. The stock had a trading volume of 3,523,930 shares, compared to its average volume of 1,506,720. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $2.76 billion, a P/E ratio of 9.64 and a beta of 0.76. The company has a 50 day moving average price of $19.13 and a 200 day moving average price of $19.41. Fulton Financial Co. has a 1 year low of $13.87 and a 1 year high of $22.49.

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

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.76%. The ex-dividend date is Tuesday, April 1st. Fulton Financial's dividend payout ratio is currently 45.86%.

Wall Street Analyst Weigh In

FULT has been the topic of several research reports. Stephens upgraded Fulton Financial from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th. StockNews.com upgraded shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. DA Davidson boosted their price target 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. Keefe, Bruyette & Woods upped their price target on shares of Fulton Financial from $23.00 to $24.00 and gave the stock a "market perform" rating in a research report on Thursday, January 23rd. Finally, Hovde Group lifted their price objective on shares of Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.64.

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.