Raymond James Financial Inc. bought a new stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 86,940 shares of the bank's stock, valued at approximately $1,676,000.
Several other institutional investors and hedge funds have also modified their holdings of FULT. Fisher Asset Management LLC boosted its position in Fulton Financial by 35.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank's stock valued at $49,782,000 after purchasing an additional 673,559 shares during the last quarter. State Street Corp raised its stake in shares of Fulton Financial by 4.4% during the 3rd quarter. State Street Corp now owns 10,544,159 shares of the bank's stock worth $191,166,000 after purchasing an additional 444,219 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Fulton Financial by 130.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank's stock valued at $10,104,000 after buying an additional 315,435 shares during the last quarter. Barclays PLC grew its stake in shares of Fulton Financial by 79.4% in the 3rd quarter. Barclays PLC now owns 420,636 shares of the bank's stock valued at $7,626,000 after buying an additional 186,215 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Fulton Financial in the third quarter worth approximately $1,784,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.
Fulton Financial Stock Performance
Fulton Financial stock traded down $1.11 on Friday, reaching $15.13. 3,523,930 shares of the stock were exchanged, compared to its average volume of 1,506,720. The stock has a market cap of $2.76 billion, a PE ratio of 9.64 and a beta of 0.76. The firm has a fifty day moving average price of $19.13 and a two-hundred day moving average price of $19.40. Fulton Financial Co. has a twelve month low of $13.87 and a twelve month high of $22.49. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32.
Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, beating 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 in the prior year, the business posted $0.42 earnings per share. Sell-side analysts anticipate that Fulton Financial Co. will post 1.91 EPS for the current 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 paid a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 4.76%. Fulton Financial's payout ratio is 45.86%.
Insider Buying and Selling
In related news, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction dated Monday, January 27th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.07% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of research firms have issued reports on FULT. Keefe, Bruyette & Woods lifted their target price on shares of Fulton Financial from $23.00 to $24.00 and gave the company a "market perform" rating in a research note on Thursday, January 23rd. StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a research note on Thursday, January 23rd. DA Davidson upped their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Stephens upgraded Fulton Financial from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. Finally, Hovde Group upped 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. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $20.64.
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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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