Victory Capital Management Inc. Sells 44,235 Shares of Fulton Financial Co. (NASDAQ:FULT)

Victory Capital Management Inc. cut its stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 612,784 shares of the bank's stock after selling 44,235 shares during the period. Victory Capital Management Inc. owned 0.34% of Fulton Financial worth $11,814,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in Fulton Financial by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 567,790 shares of the bank's stock worth $11,007,000 after buying an additional 34,844 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Fulton Financial by 130.4% in the third quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank's stock worth $10,104,000 after purchasing an additional 315,435 shares in the last quarter. EMC Capital Management grew its stake in shares of Fulton Financial by 151.2% in the fourth quarter. EMC Capital Management now owns 22,607 shares of the bank's stock worth $436,000 after acquiring an additional 13,607 shares during the last quarter. Allworth Financial LP grew its stake in shares of Fulton Financial by 1,255.1% in the fourth quarter. Allworth Financial LP now owns 20,381 shares of the bank's stock worth $420,000 after acquiring an additional 18,877 shares during the last quarter. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Fulton Financial in the fourth quarter worth $329,000. Hedge funds and other institutional investors own 72.02% of the company's stock.

Fulton Financial Trading Down 0.8 %

Shares of NASDAQ FULT opened at $17.50 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $3.19 billion, a P/E ratio of 11.15 and a beta of 0.76. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49. The business has a fifty day moving average price of $19.88 and a 200 day moving average price of $19.48.

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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 analysts' consensus estimates 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 period in the previous year, the firm earned $0.42 earnings per share. Equities research analysts expect that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Increases Dividend

The company 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 of this dividend was Tuesday, December 31st. This is a positive change from Fulton Financial's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.11%. Fulton Financial's dividend payout ratio is currently 45.86%.

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 that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the sale, the president now directly owns 63,682 shares of the company's stock, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com raised Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Stephens upgraded Fulton Financial from an "equal weight" rating to an "overweight" rating in a report on Monday, December 9th. DA Davidson lifted their target price on Fulton Financial from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price objective on Fulton Financial from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Thursday, January 23rd. Finally, Hovde Group upped their price objective on Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a research report on Monday, January 27th. Five 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.com, Fulton Financial currently has an average rating of "Hold" and an average price target of $20.64.

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.

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