Belpointe Asset Management LLC Invests $74,000 in Fulton Financial Co. (NASDAQ:FULT)

Belpointe Asset Management LLC acquired a new position in Fulton Financial Co. (NASDAQ:FULT – Get Rating) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 4,390 shares of the bank’s stock, valued at approximately $74,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Metropolitan Life Insurance Co NY grew its position in Fulton Financial by 6.6% in the third quarter. Metropolitan Life Insurance Co NY now owns 9,770 shares of the bank’s stock worth $154,000 after acquiring an additional 604 shares in the last quarter. Eaton Vance Management grew its position in Fulton Financial by 1.4% in the third quarter. Eaton Vance Management now owns 46,275 shares of the bank’s stock worth $731,000 after acquiring an additional 625 shares in the last quarter. Zacks Investment Management grew its position in Fulton Financial by 0.8% in the third quarter. Zacks Investment Management now owns 84,586 shares of the bank’s stock worth $1,336,000 after acquiring an additional 635 shares in the last quarter. Signaturefd LLC grew its position in Fulton Financial by 55.0% in the fourth quarter. Signaturefd LLC now owns 1,815 shares of the bank’s stock worth $31,000 after acquiring an additional 644 shares in the last quarter. Finally, MML Investors Services LLC grew its position in Fulton Financial by 6.4% in the third quarter. MML Investors Services LLC now owns 11,765 shares of the bank’s stock worth $186,000 after acquiring an additional 703 shares in the last quarter. 64.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FULT has been the subject of several recent research reports. Piper Sandler lowered their price target on shares of Fulton Financial from $15.00 to $14.00 in a research note on Thursday, April 20th. Keefe, Bruyette & Woods lowered their price target on shares of Fulton Financial from $20.00 to $16.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th. DA Davidson lowered their price target on shares of Fulton Financial from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, April 20th. Finally, StockNews.com initiated coverage on shares of Fulton Financial in a research note on Thursday. They issued a “sell” rating for the company.

Fulton Financial Stock Performance

Shares of NASDAQ:FULT opened at $11.21 on Monday. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 6.67 and a beta of 0.76. The company has a 50-day moving average price of $12.69 and a 200-day moving average price of $15.61. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. Fulton Financial Co. has a 12 month low of $9.64 and a 12 month high of $18.91.

Fulton Financial (NASDAQ:FULT – Get Rating) last issued its quarterly earnings data on Wednesday, April 19th. The bank reported $0.39 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.09). The firm had revenue of $267.34 million for the quarter, compared to the consensus estimate of $281.45 million. Fulton Financial had a net margin of 24.14% and a return on equity of 13.03%. The business’s revenue was up 23.4% on a year-over-year basis. During the same period last year, the company posted $0.38 earnings per share. As a group, equities analysts anticipate that Fulton Financial Co. will post 1.64 EPS for the current year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Monday, April 3rd were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend was Friday, March 31st. Fulton Financial’s dividend payout ratio (DPR) is 35.71%.

Insider Activity

In related news, CEO Curtis J. Myers purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was bought at an average cost of $9.81 per share, with a total value of $147,150.00. Following the completion of the purchase, the chief executive officer now directly owns 157,044 shares in the company, valued at $1,540,601.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fulton Financial news, EVP Meg R. Mueller sold 9,952 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $15.71, for a total value of $156,345.92. Following the sale, the executive vice president now owns 82,650 shares in the company, valued at $1,298,431.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Curtis J. Myers acquired 15,000 shares of the business’s stock in a transaction on Friday, May 12th. The stock was acquired at an average price of $9.81 per share, for a total transaction of $147,150.00. Following the acquisition, the chief executive officer now owns 157,044 shares of the company’s stock, valued at approximately $1,540,601.64. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 20,467 shares of company stock valued at $274,013. Insiders own 0.98% of the company’s stock.

About Fulton Financial

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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.