Fisher Asset Management LLC Sells 112,239 Shares of Fulton Financial Corporation $FULT

Fisher Asset Management LLC lowered its position in Fulton Financial Corporation (NASDAQ:FULT) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,251,270 shares of the bank’s stock after selling 112,239 shares during the period. Fisher Asset Management LLC’s holdings in Fulton Financial were worth $62,847,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FULT. Nisa Investment Advisors LLC raised its stake in shares of Fulton Financial by 2.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 23,924 shares of the bank’s stock worth $467,000 after purchasing an additional 580 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Fulton Financial by 16.8% in the fourth quarter. GAMMA Investing LLC now owns 4,262 shares of the bank’s stock worth $82,000 after purchasing an additional 613 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Fulton Financial by 1.2% in the third quarter. Arizona State Retirement System now owns 53,768 shares of the bank’s stock worth $1,002,000 after purchasing an additional 623 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Fulton Financial by 48.0% in the third quarter. Jones Financial Companies Lllp now owns 1,995 shares of the bank’s stock worth $38,000 after purchasing an additional 647 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of Fulton Financial by 1.3% in the third quarter. Amalgamated Bank now owns 52,371 shares of the bank’s stock worth $976,000 after purchasing an additional 671 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Performance

Shares of FULT opened at $21.44 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 10.21 and a beta of 0.81. The stock has a 50 day moving average of $20.95 and a 200 day moving average of $20.28. Fulton Financial Corporation has a 12 month low of $16.60 and a 12 month high of $22.99.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The company had revenue of $331.86 million during the quarter, compared to the consensus estimate of $359.36 million. Fulton Financial had a return on equity of 12.69% and a net margin of 20.85%.During the same period last year, the business posted $0.52 earnings per share. As a group, sell-side analysts forecast that Fulton Financial Corporation will post 2.17 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, April 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 36.19%.

Analysts Set New Price Targets

Several brokerages have recently commented on FULT. Weiss Ratings raised Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. DA Davidson began coverage on Fulton Financial in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $24.00 price objective for the company. Raymond James Financial reissued an “outperform” rating and issued a $24.00 price objective on shares of Fulton Financial in a research note on Monday, April 27th. Finally, Wall Street Zen downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 3rd. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Fulton Financial currently has an average rating of “Hold” and an average price target of $23.00.

Insider Activity at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $21.42, for a total transaction of $107,100.00. Following the completion of the sale, the director directly owned 80,477 shares of the company’s stock, valued at approximately $1,723,817.34. This trade represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.01% of the company’s stock.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.