Dalton Greiner Hartman Maher & Co. lessened its holdings in shares of Fulton Financial Corp (NASDAQ:FULT) by 10.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 762,012 shares of the bank’s stock after selling 84,294 shares during the quarter. Dalton Greiner Hartman Maher & Co. owned approximately 0.46% of Fulton Financial worth $13,282,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. California Public Employees Retirement System increased its position in Fulton Financial by 13.5% during the third quarter. California Public Employees Retirement System now owns 465,787 shares of the bank’s stock worth $7,536,000 after buying an additional 55,549 shares during the last quarter. Virtu Financial LLC acquired a new position in Fulton Financial during the third quarter worth approximately $223,000. Russell Investments Group Ltd. increased its position in Fulton Financial by 15.2% during the third quarter. Russell Investments Group Ltd. now owns 153,345 shares of the bank’s stock worth $2,486,000 after buying an additional 20,223 shares during the last quarter. Foundry Partners LLC grew its position in shares of Fulton Financial by 6.3% in the third quarter. Foundry Partners LLC now owns 704,484 shares of the bank’s stock valued at $11,399,000 after purchasing an additional 41,914 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Fulton Financial by 42.3% in the second quarter. Wells Fargo & Company MN now owns 249,797 shares of the bank’s stock valued at $4,089,000 after purchasing an additional 74,251 shares during the last quarter. 64.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fulton Financial stock traded up $0.02 on Wednesday, hitting $17.23. The stock had a trading volume of 26,405 shares, compared to its average volume of 833,033. Fulton Financial Corp has a twelve month low of $14.85 and a twelve month high of $18.00. The business’s 50 day moving average is $17.44 and its two-hundred day moving average is $16.69. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.31. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 14.65 and a beta of 1.02.
Fulton Financial (NASDAQ:FULT) last released its earnings results on Tuesday, October 22nd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $221.07 million during the quarter, compared to analysts’ expectations of $222.21 million. Fulton Financial had a return on equity of 10.31% and a net margin of 22.88%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 earnings per share. As a group, equities analysts predict that Fulton Financial Corp will post 1.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.02%. Fulton Financial’s dividend payout ratio (DPR) is presently 44.07%.
In other news, EVP David M. Campbell bought 5,900 shares of the company’s stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $16.89 per share, with a total value of $99,651.00. Also, EVP Daniel R. Stolzer sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $17.59, for a total transaction of $105,540.00. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.
FULT has been the topic of several research reports. BidaskClub downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 10th. ValuEngine raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Zacks Investment Research raised Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Fulton Financial presently has an average rating of “Hold” and a consensus target price of $18.25.
Fulton Financial Profile
Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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