Cullinan Associates Inc. raised its stake in shares of Fulton Financial Corp (NASDAQ:FULT) by 63.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 32,600 shares of the bank’s stock after purchasing an additional 12,600 shares during the period. 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 also recently added to or reduced their stakes in FULT. NumerixS Investment Technologies Inc bought a new stake in Fulton Financial during the second quarter valued at about $25,000. Tower Research Capital LLC TRC boosted its stake in shares of Fulton Financial by 225.1% in the third quarter. Tower Research Capital LLC TRC now owns 6,190 shares of the bank’s stock worth $100,000 after acquiring an additional 4,286 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Fulton Financial by 118.2% in the third quarter. Meeder Asset Management Inc. now owns 8,208 shares of the bank’s stock worth $133,000 after acquiring an additional 4,446 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Fulton Financial by 1,475.0% in the third quarter. Point72 Asset Management L.P. now owns 12,600 shares of the bank’s stock worth $204,000 after acquiring an additional 11,800 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Fulton Financial in the third quarter worth about $223,000. 64.94% of the stock is owned by institutional investors and hedge funds.
NASDAQ FULT opened at $17.25 on Thursday. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 14.62 and a beta of 1.02. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $17.44 and a 200-day moving average price of $16.69. Fulton Financial Corp has a twelve month low of $14.85 and a twelve month high of $18.00.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.01%. Fulton Financial’s dividend payout ratio is currently 44.07%.
A number of equities analysts have recently weighed in on FULT shares. ValuEngine raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Monday, November 25th. Zacks Investment Research raised Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Thursday, January 9th. Finally, BidaskClub lowered Fulton Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $18.25.
In other news, EVP David M. Campbell bought 5,900 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $16.89 per share, for a total transaction of $99,651.00. Also, EVP Daniel R. Stolzer sold 6,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was 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 insiders.
Fulton Financial Profile
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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