Cullinan Associates Inc. Purchases 12,600 Shares of Fulton Financial Corp (NASDAQ:FULT)

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Cullinan Associates Inc. increased its position in Fulton Financial Corp (NASDAQ:FULT) by 63.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,600 shares of the bank’s stock after purchasing an additional 12,600 shares during the quarter. Cullinan Associates Inc.’s holdings in Fulton Financial were worth $568,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in Fulton Financial by 0.3% in the second quarter. Royal Bank of Canada now owns 247,970 shares of the bank’s stock worth $4,061,000 after purchasing an additional 863 shares in the last quarter. Smith Graham & Co. Investment Advisors LP grew its stake in Fulton Financial by 0.3% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 335,510 shares of the bank’s stock worth $5,429,000 after purchasing an additional 1,080 shares in the last quarter. BBVA USA Bancshares Inc. grew its stake in Fulton Financial by 5.1% in the third quarter. BBVA USA Bancshares Inc. now owns 27,100 shares of the bank’s stock worth $438,000 after purchasing an additional 1,315 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in Fulton Financial in the second quarter worth approximately $25,000. Finally, RKL Wealth Management LLC grew its stake in Fulton Financial by 2.8% in the third quarter. RKL Wealth Management LLC now owns 62,562 shares of the bank’s stock worth $1,013,000 after purchasing an additional 1,703 shares in the last quarter. 64.94% of the stock is currently owned by institutional investors.

Shares of NASDAQ FULT opened at $17.25 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $2.83 billion, a PE ratio of 14.62 and a beta of 1.02. The stock’s fifty day simple moving average is $17.44 and its two-hundred day simple moving average is $16.69. Fulton Financial Corp has a 12-month low of $14.85 and a 12-month high of $18.00.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $221.07 million for the quarter, compared to analysts’ expectations of $222.21 million. Fulton Financial had a return on equity of 10.31% and a net margin of 22.88%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. On average, equities analysts predict that Fulton Financial Corp will post 1.41 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 annualized dividend and a yield of 3.01%. Fulton Financial’s dividend payout ratio (DPR) is presently 44.07%.

FULT has been the topic of several recent research reports. ValuEngine raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. BidaskClub cut Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 10th. Finally, Zacks Investment Research raised Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.25.

In related news, EVP David M. Campbell bought 5,900 shares of the company’s stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $16.89 per share, with a total value of $99,651.00. Also, EVP Daniel R. Stolzer sold 6,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $17.59, for a total value of $105,540.00. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.

About Fulton Financial

Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.

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

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