Norges Bank bought a new position in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,971,480 shares of the bank's stock, valued at approximately $38,010,000. Norges Bank owned 1.08% of Fulton Financial as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position 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 purchasing an additional 853 shares in the last quarter. Quarry LP bought a new position in Fulton Financial in the 3rd quarter valued at approximately $33,000. McClarren Financial Advisors Inc. bought a new position in Fulton Financial in the 4th quarter valued at approximately $44,000. Blue Trust Inc. lifted its position in Fulton Financial by 10.3% in the 4th 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. Finally, AlphaQuest LLC lifted its position in Fulton Financial by 16,041.2% in the 4th quarter. AlphaQuest LLC now owns 5,488 shares of the bank's stock valued at $106,000 after acquiring an additional 5,454 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on FULT. Hovde Group increased their price target on Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a report on Monday, January 27th. DA Davidson increased 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. StockNews.com raised Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods increased their price target on Fulton Financial from $23.00 to $24.00 and gave the company a "market perform" rating in a 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. According to data from MarketBeat, Fulton Financial has an average rating of "Hold" and a consensus price target of $20.64.
Read Our Latest Stock Report on Fulton Financial
Insiders Place Their Bets
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. Corporate insiders own 1.07% of the company's stock.
Fulton Financial Trading Down 4.7 %
NASDAQ FULT traded down $0.77 during trading on Thursday, hitting $15.50. The stock had a trading volume of 177,665 shares, compared to its average volume of 1,517,397. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 9.87 and a beta of 0.68. Fulton Financial Co. has a one year low of $13.87 and a one year high of $22.49. The stock has a 50 day simple moving average of $18.65 and a 200 day simple moving average of $19.30.
Fulton Financial (NASDAQ:FULT - Get Free Report) last issued its earnings results on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, topping 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 quarter last year, the firm earned $0.42 EPS. Sell-side analysts predict that Fulton Financial Co. will post 1.91 earnings per share 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 issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.65%. The ex-dividend date is Tuesday, April 1st. Fulton Financial's dividend payout ratio is currently 45.86%.
About Fulton Financial
(
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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