Private Advisor Group LLC Sells 7,145 Shares of Fulton Financial Co. (NASDAQ:FULT)

Private Advisor Group LLC reduced its stake in shares of Fulton Financial Co. (NASDAQ:FULTFree Report) by 28.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,620 shares of the bank’s stock after selling 7,145 shares during the period. Private Advisor Group LLC’s holdings in Fulton Financial were worth $213,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. OLD Point Trust & Financial Services N A bought a new position in shares of Fulton Financial during the 2nd quarter valued at approximately $27,000. DT Investment Partners LLC raised its stake in Fulton Financial by 576.4% in the second quarter. DT Investment Partners LLC now owns 2,347 shares of the bank’s stock valued at $28,000 after buying an additional 2,000 shares during the last quarter. Lazard Asset Management LLC raised its stake in Fulton Financial by 1,554.1% in the first quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock valued at $36,000 after buying an additional 2,067 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Fulton Financial in the second quarter valued at about $39,000. Finally, Almanack Investment Partners LLC. purchased a new stake in Fulton Financial in the third quarter valued at about $42,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FULT shares. Stephens reissued an “equal weight” rating and issued a $16.00 price objective on shares of Fulton Financial in a report on Wednesday, January 17th. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Finally, Keefe, Bruyette & Woods lifted their price target on Fulton Financial from $16.00 to $17.00 and gave the stock a “market perform” rating in a research note on Thursday, January 18th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.60.

Read Our Latest Stock Analysis on Fulton Financial

Fulton Financial Price Performance

Fulton Financial stock opened at $15.22 on Thursday. Fulton Financial Co. has a twelve month low of $9.64 and a twelve month high of $17.50. The stock has a 50 day moving average of $15.96 and a two-hundred day moving average of $14.17. 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 has a market capitalization of $2.50 billion, a price-to-earnings ratio of 9.28 and a beta of 0.82.

Fulton Financial (NASDAQ:FULTGet Free Report) last issued its earnings results on Wednesday, January 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Fulton Financial had a return on equity of 11.79% and a net margin of 18.94%. The business had revenue of $271.38 million during the quarter, compared to the consensus estimate of $268.70 million. During the same period in the prior year, the business posted $0.48 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, research analysts expect that Fulton Financial Co. will post 1.5 earnings per share for the current year.

Fulton Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.17 per share. This is an increase from Fulton Financial’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, December 29th. This represents a $0.68 annualized dividend and a yield of 4.47%. Fulton Financial’s dividend payout ratio (DPR) is presently 41.46%.

Fulton Financial Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Fulton Financial (NASDAQ:FULT)

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