Gardner Russo & Quinn LLC Decreases Holdings in Fulton Financial Co. (NASDAQ:FULT)

Gardner Russo & Quinn LLC lessened its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 74,700 shares of the bank’s stock after selling 6,528 shares during the period. Gardner Russo & Quinn LLC’s holdings in Fulton Financial were worth $1,440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FULT. Norges Bank acquired a new stake in shares of Fulton Financial during the 4th quarter worth approximately $38,010,000. JPMorgan Chase & Co. raised its stake in shares of Fulton Financial by 137.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank’s stock valued at $25,500,000 after acquiring an additional 765,313 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Fulton Financial by 35.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank’s stock worth $49,782,000 after acquiring an additional 673,559 shares during the last quarter. State Street Corp boosted its position in shares of Fulton Financial by 4.4% during the 3rd quarter. State Street Corp now owns 10,544,159 shares of the bank’s stock worth $191,166,000 after purchasing an additional 444,219 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Fulton Financial in the 4th quarter valued at $5,678,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FULT. Hovde Group raised their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research report on Monday, January 27th. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. DA Davidson raised their target price on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.64.

Fulton Financial Trading Down 1.6 %

Shares of Fulton Financial stock opened at $17.97 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 11.45 and a beta of 0.76. Fulton Financial Co. has a 52-week low of $13.87 and a 52-week high of $22.49. The company’s 50-day simple moving average is $19.50 and its 200-day simple moving average is $19.42.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period in the prior year, the firm earned $0.42 EPS. As a group, equities research analysts anticipate that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Tuesday, April 1st. Fulton Financial’s dividend payout ratio is currently 45.86%.

Insider Transactions at Fulton Financial

In related news, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the transaction, the president now directly owns 63,682 shares of the company’s stock, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.07% of the company’s stock.

Fulton Financial Profile

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.