Putnam Investments LLC Lowers Holdings in Fulton Financial Co. (NASDAQ:FULT)

Putnam Investments LLC decreased its position in Fulton Financial Co. (NASDAQ:FULT – Get Rating) by 1.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,672 shares of the bank’s stock after selling 1,466 shares during the period. Putnam Investments LLC’s holdings in Fulton Financial were worth $1,274,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Raymond James & Associates raised its stake in Fulton Financial by 12.0% in the first quarter. Raymond James & Associates now owns 49,094 shares of the bank’s stock worth $816,000 after buying an additional 5,268 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Fulton Financial by 19.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,186 shares of the bank’s stock worth $485,000 after buying an additional 4,742 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Fulton Financial in the first quarter worth approximately $185,000. HighTower Advisors LLC raised its stake in Fulton Financial by 2.0% in the first quarter. HighTower Advisors LLC now owns 59,232 shares of the bank’s stock worth $986,000 after buying an additional 1,142 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in Fulton Financial by 2.9% in the first quarter. Private Advisor Group LLC now owns 31,259 shares of the bank’s stock worth $520,000 after buying an additional 887 shares in the last quarter. Hedge funds and other institutional investors own 64.84% of the company’s stock.

Insider Activity at Fulton Financial

In other news, Director George K. Martin bought 2,910 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The shares were purchased at an average cost of $17.16 per share, with a total value of $49,935.60. Following the transaction, the director now directly owns 8,870 shares in the company, valued at $152,209.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Fulton Financial news, Director George K. Martin purchased 2,910 shares of the stock in a transaction on Tuesday, February 7th. The shares were bought at an average cost of $17.16 per share, with a total value of $49,935.60. Following the completion of the acquisition, the director now owns 8,870 shares in the company, valued at $152,209.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George W. Hodges sold 6,799 shares of the company’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $16.57, for a total transaction of $112,659.43. Following the completion of the sale, the director now directly owns 14,393 shares in the company, valued at $238,492.01. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Fulton Financial Stock Performance

Shares of FULT stock opened at $14.93 on Tuesday. The business’s fifty day simple moving average is $16.76 and its 200-day simple moving average is $17.02. The company has a market cap of $2.49 billion, a PE ratio of 8.94 and a beta of 0.80. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. Fulton Financial Co. has a 12-month low of $13.72 and a 12-month high of $18.91.

Fulton Financial (NASDAQ:FULT – Get Rating) last released its earnings results on Tuesday, January 17th. The bank reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Fulton Financial had a net margin of 26.28% and a return on equity of 12.92%. The firm had revenue of $284.54 million during the quarter, compared to analyst estimates of $285.36 million. Analysts expect that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, January 3rd were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Friday, December 30th. Fulton Financial’s payout ratio is 35.93%.

Analyst Upgrades and Downgrades

FULT has been the subject of a number of recent research reports. Janney Montgomery Scott initiated coverage on shares of Fulton Financial in a research note on Tuesday, January 10th. They issued a “neutral” rating and a $19.50 price objective for the company. DA Davidson reduced their price target on Fulton Financial from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, January 19th.

Fulton Financial Company Profile

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Fulton Financial Corp. is financial holding company, which through its subsidiaries, engages in the provision of consumer and commercial banking products and services. It offers checking account and savings deposit products, certificates of deposit and individual retirement accounts. The company also offers investment management, trust, brokerage, insurance and investment advisory services to consumer and commercial banking customers in the market areas serviced by the subsidiary banks.