Stonebridge Financial Group LLC Purchases New Holdings in Fulton Financial Co. (NASDAQ:FULT)

Stonebridge Financial Group LLC acquired a new position in Fulton Financial Co. (NASDAQ:FULT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,611 shares of the bank’s stock, valued at approximately $166,000.

Several other large investors have also modified their holdings of FULT. Quarry LP bought a new stake in shares of Fulton Financial during the third quarter valued at approximately $33,000. Coston McIsaac & Partners bought a new stake in Fulton Financial during the 3rd quarter valued at $54,000. Blue Trust Inc. raised its position in Fulton Financial by 28.8% during the 3rd quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock valued at $84,000 after purchasing an additional 1,106 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Fulton Financial by 11.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock worth $118,000 after buying an additional 676 shares during the period. Finally, KBC Group NV grew its position in shares of Fulton Financial by 69.3% during the 4th quarter. KBC Group NV now owns 8,517 shares of the bank’s stock worth $164,000 after buying an additional 3,487 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Hovde Group lifted their price objective on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods boosted their price target on shares of Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, January 23rd. DA Davidson increased their price objective on shares of Fulton Financial from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Piper Sandler set a $21.00 target price on Fulton Financial in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.64.

Insiders Place Their Bets

In related news, CEO Curtis J. Myers sold 24,192 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $21.16, for a total value of $511,902.72. Following the transaction, the chief executive officer now owns 155,946 shares in the company, valued at approximately $3,299,817.36. This represents a 13.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the sale, the president now 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 disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

Fulton Financial Stock Down 2.3 %

Fulton Financial stock opened at $20.39 on Thursday. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49. The business has a fifty day moving average price of $20.22 and a 200-day moving average price of $19.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 12.99 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, topping the consensus estimate 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 earnings per share. Equities research analysts forecast that Fulton Financial Co. will post 1.91 EPS for the current fiscal year.

Fulton Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.18 per share. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a yield of 3.53%. Fulton Financial’s dividend payout ratio is presently 45.86%.

About Fulton Financial

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.