Stillwater Capital Advisors LLC Makes New $540,000 Investment in Fulton Financial Co. (NASDAQ:FULT)

Stillwater Capital Advisors LLC acquired a new position in Fulton Financial Co. (NASDAQ:FULT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,017 shares of the bank's stock, valued at approximately $540,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC increased its stake in shares of Fulton Financial by 511.1% in the second quarter. Millennium Management LLC now owns 3,256,000 shares of the bank's stock worth $55,287,000 after buying an additional 2,723,170 shares during the period. Emerald Advisers LLC increased its position in shares of Fulton Financial by 213.6% in the third quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank's stock valued at $23,706,000 after acquiring an additional 890,630 shares during the period. Emerald Mutual Fund Advisers Trust raised its stake in shares of Fulton Financial by 272.2% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank's stock valued at $15,622,000 after acquiring an additional 630,152 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Fulton Financial by 710.0% during the second quarter. The Manufacturers Life Insurance Company now owns 699,652 shares of the bank's stock valued at $11,880,000 after acquiring an additional 613,272 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Fulton Financial by 4.4% during the third 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 during the period. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Stock Up 1.8 %

Shares of NASDAQ:FULT traded up $0.37 during midday trading on Friday, reaching $20.86. The company's stock had a trading volume of 1,901,920 shares, compared to its average volume of 1,159,310. The firm has a market capitalization of $3.80 billion, a P/E ratio of 13.20 and a beta of 0.79. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a 12-month low of $13.87 and a 12-month high of $22.49. The firm has a 50 day moving average of $20.50 and a 200-day moving average of $19.03.

Fulton Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.18 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.72 annualized dividend and a dividend yield of 3.45%. This is an increase from Fulton Financial's previous quarterly dividend of $0.17. Fulton Financial's dividend payout ratio is presently 45.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FULT shares. Stephens upgraded Fulton Financial from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. Keefe, Bruyette & Woods lifted their price target on shares of Fulton Financial from $20.00 to $23.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. StockNews.com cut shares of Fulton Financial from a "hold" rating to a "sell" rating in a research report on Monday, November 11th. Finally, Piper Sandler set a $21.00 target price on shares of Fulton Financial in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $19.50.

Insider Activity at Fulton Financial

In other news, CEO Curtis J. Myers sold 24,192 shares of the business's stock in a transaction on Friday, December 6th. The stock was 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. The trade was a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.07% of the stock is owned by corporate insiders.

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.