Proficio Capital Partners LLC bought a new stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,482 shares of the bank's stock, valued at approximately $279,000.
Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp grew its position in Fulton Financial by 193.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank's stock worth $25,000 after acquiring an additional 853 shares during the period. Quarry LP purchased a new stake in Fulton Financial in the 3rd quarter valued at about $33,000. McClarren Financial Advisors Inc. acquired a new position in Fulton Financial in the fourth quarter valued at about $44,000. Blue Trust Inc. boosted its stake in Fulton Financial by 10.3% during the fourth quarter. Blue Trust Inc. now owns 5,455 shares of the bank's stock worth $99,000 after buying an additional 509 shares during the period. Finally, TD Private Client Wealth LLC increased its position in shares of Fulton Financial by 11.6% during the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank's stock valued at $118,000 after acquiring an additional 676 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company's stock.
Insider Buying and Selling
In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the sale, the president now directly owns 63,682 shares of the company's stock, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.07% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on FULT shares. DA Davidson lifted their target price 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 raised their price target on Fulton Financial from $23.00 to $24.00 and gave the company 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 report on Monday, December 9th. StockNews.com raised Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, Hovde Group upped 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. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $20.64.
View Our Latest Stock Analysis on Fulton Financial
Fulton Financial Stock Performance
NASDAQ:FULT traded down $0.29 during mid-day trading on Friday, reaching $17.97. The stock had a trading volume of 957,934 shares, compared to its average volume of 1,483,018. 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 business has a 50 day simple moving average of $19.50 and a 200 day simple moving average of $19.43. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 11.45 and a beta of 0.76. Fulton Financial Co. has a twelve month low of $13.87 and a twelve month 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 EPS for the quarter, beating 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 firm earned $0.42 EPS. On average, analysts expect that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.
Fulton Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 4.01%. 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.
Featured Articles
Before you consider Fulton Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fulton Financial wasn't on the list.
While Fulton Financial currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
