McClarren Financial Advisors Inc. Purchases New Position in Fulton Financial Co. (NASDAQ:FULT)

McClarren Financial Advisors Inc. acquired a new position in shares of Fulton Financial Co. (NASDAQ:FULT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,316 shares of the bank’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in shares of Fulton Financial by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 567,790 shares of the bank’s stock worth $11,007,000 after purchasing an additional 34,844 shares during the period. JPMorgan Chase & Co. lifted its position in Fulton Financial by 130.4% in the third quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock worth $10,104,000 after buying an additional 315,435 shares during the last quarter. EMC Capital Management boosted its stake in Fulton Financial by 151.2% during the fourth quarter. EMC Capital Management now owns 22,607 shares of the bank’s stock worth $436,000 after buying an additional 13,607 shares during the period. Segall Bryant & Hamill LLC bought a new position in Fulton Financial during the third quarter valued at $3,489,000. Finally, Geode Capital Management LLC increased its position in Fulton Financial by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank’s stock valued at $79,264,000 after acquiring an additional 85,574 shares during the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Fulton Financial Stock Performance

Fulton Financial stock opened at $20.39 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $3.71 billion, a PE ratio of 12.99 and a beta of 0.79. The company has a 50 day moving average price of $20.22 and a 200-day moving average price of $19.29. Fulton Financial Co. has a fifty-two week low of $13.87 and a fifty-two week high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its 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 quarter last year, the firm posted $0.42 earnings per share. As a group, equities analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FULT shares. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. Keefe, Bruyette & Woods raised their price objective on shares of Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, January 23rd. Hovde Group upped their target price on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research note on Monday, January 27th. DA Davidson raised their price target on Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fulton Financial has a consensus rating of “Hold” and a consensus target price of $20.64.

Insider Buying and Selling at Fulton Financial

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the company’s 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 sale, the president now owns 63,682 shares in the company, valued at $1,317,580.58. This represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Curtis J. Myers sold 24,192 shares of Fulton Financial stock in a transaction 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 completion of the transaction, the chief executive officer now owns 155,946 shares in the company, valued at $3,299,817.36. This represents a 13.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

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.