Legato Capital Management LLC raised its holdings in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 498.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,641 shares of the bank's stock after purchasing an additional 52,998 shares during the quarter. Legato Capital Management LLC's holdings in Fulton Financial were worth $1,227,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp grew its stake in Fulton Financial by 4.4% in the third quarter. State Street Corp now owns 10,544,159 shares of the bank's stock valued at $191,166,000 after purchasing an additional 444,219 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Fulton Financial by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank's stock worth $79,264,000 after acquiring an additional 85,574 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Fulton Financial by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,358,099 shares of the bank's stock worth $42,752,000 after acquiring an additional 31,754 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Fulton Financial by 4.2% during the third quarter. Fisher Asset Management LLC now owns 1,908,477 shares of the bank's stock worth $34,601,000 after acquiring an additional 77,072 shares during the last quarter. Finally, Emerald Advisers LLC grew its stake in shares of Fulton Financial by 213.6% during the third quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank's stock worth $23,706,000 after acquiring an additional 890,630 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on FULT shares. Hovde Group boosted their price target on Fulton Financial from $22.00 to $22.50 and gave the stock a "market perform" rating in a research note on Monday, January 27th. DA Davidson boosted their price target on 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 target price on Fulton Financial from $23.00 to $24.00 and gave the stock a "market perform" rating in a research note on Thursday, January 23rd. Stephens raised Fulton Financial from an "equal weight" rating to an "overweight" rating in a research note on Monday, December 9th. Finally, StockNews.com upgraded Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $20.64.
Check Out Our Latest Stock Analysis on FULT
Insider Activity
In related news, President Angela M. Snyder sold 13,322 shares of the firm's 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 transaction, the president now owns 63,682 shares in the company, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the completion of the transaction, the chief executive officer now owns 155,946 shares in the company, valued at $3,299,817.36. This trade represents a 13.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.07% of the company's stock.
Fulton Financial Trading Down 0.5 %
Shares of NASDAQ FULT traded down $0.10 during mid-day trading on Friday, reaching $20.54. 602,042 shares of the company's stock were exchanged, compared to its average volume of 1,507,455. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 13.08 and a beta of 0.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. Fulton Financial Co. has a 52-week low of $13.87 and a 52-week high of $22.49. The company's 50-day moving average is $20.20 and its 200-day moving average is $19.31.
Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its 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 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. Analysts expect that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.
Fulton Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.18 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.51%. This is an increase from Fulton Financial's previous quarterly dividend of $0.17. Fulton Financial's dividend payout ratio is presently 45.86%.
Fulton Financial Company Profile
(
Free Report)
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.
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