Fulton Financial Co. (NASDAQ:FULT) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in shares of Fulton Financial Co. (NASDAQ:FULT – Get Rating) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,697 shares of the bank’s stock after selling 3,884 shares during the quarter. Russell Investments Group Ltd.’s holdings in Fulton Financial were worth $1,324,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its stake in shares of Fulton Financial by 4.1% in the fourth quarter. Arizona State Retirement System now owns 47,224 shares of the bank’s stock valued at $795,000 after buying an additional 1,855 shares in the last quarter. LPL Financial LLC grew its stake in shares of Fulton Financial by 242.5% in the fourth quarter. LPL Financial LLC now owns 49,802 shares of the bank’s stock valued at $838,000 after buying an additional 35,263 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Fulton Financial by 10.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 44,269 shares of the bank’s stock valued at $745,000 after buying an additional 4,190 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of Fulton Financial by 0.8% in the fourth quarter. Retirement Systems of Alabama now owns 220,763 shares of the bank’s stock valued at $3,715,000 after buying an additional 1,664 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in Fulton Financial in the fourth quarter valued at about $741,000. 64.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fulton Financial news, CEO Curtis J. Myers bought 15,000 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were purchased at an average cost of $9.81 per share, for a total transaction of $147,150.00. Following the transaction, the chief executive officer now directly owns 157,044 shares in the company, valued at $1,540,601.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fulton Financial news, CEO Curtis J. Myers bought 15,000 shares of the business’s stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $9.81 per share, with a total value of $147,150.00. Following the purchase, the chief executive officer now directly owns 157,044 shares of the company’s stock, valued at $1,540,601.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David M. Campbell sold 10,514 shares of Fulton Financial stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $11.19, for a total value of $117,651.66. Following the sale, the executive vice president now directly owns 22,202 shares in the company, valued at approximately $248,440.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,467 shares of company stock valued at $274,013. Insiders own 0.98% of the company’s stock.

Fulton Financial Trading Down 0.8 %

Shares of NASDAQ FULT opened at $11.46 on Thursday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 6.82 and a beta of 0.76. Fulton Financial Co. has a 12-month low of $9.64 and a 12-month high of $18.91. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock’s 50 day simple moving average is $12.48 and its 200 day simple moving average is $15.48.

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

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Monday, April 3rd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.24%. The ex-dividend date of this dividend was Friday, March 31st. Fulton Financial’s dividend payout ratio (DPR) is 35.71%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler reduced their price target on Fulton Financial from $15.00 to $14.00 in a report on Thursday, April 20th. Keefe, Bruyette & Woods reduced their price target on Fulton Financial from $20.00 to $16.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. TheStreet downgraded Fulton Financial from a “b-” rating to a “c+” rating in a report on Monday. StockNews.com assumed coverage on Fulton Financial in a report on Thursday, May 18th. They issued a “sell” rating for the company. Finally, DA Davidson reduced their price target on Fulton Financial from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, April 20th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.50.

Fulton Financial Company Profile

(Get Rating)

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.