Intech Investment Management LLC Acquires 42,533 Shares of Fulton Financial Co. (NASDAQ:FULT)

Intech Investment Management LLC grew its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 101.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,618 shares of the bank’s stock after buying an additional 42,533 shares during the quarter. Intech Investment Management LLC’s holdings in Fulton Financial were worth $1,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fisher Asset Management LLC increased its holdings in Fulton Financial by 35.3% during the 4th quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank’s stock worth $49,782,000 after purchasing an additional 673,559 shares in the last quarter. State Street Corp raised its position in Fulton Financial by 4.4% in the 3rd quarter. State Street Corp now owns 10,544,159 shares of the bank’s stock valued at $191,166,000 after buying an additional 444,219 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Fulton Financial by 130.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock valued at $10,104,000 after acquiring an additional 315,435 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in Fulton Financial during the 3rd quarter worth $3,489,000. Finally, Barclays PLC raised its holdings in shares of Fulton Financial by 79.4% in the third quarter. Barclays PLC now owns 420,636 shares of the bank’s stock valued at $7,626,000 after purchasing an additional 186,215 shares during the last quarter. 72.02% of the stock is owned by institutional investors.

Insider Buying and Selling at Fulton Financial

In related news, President Angela M. Snyder sold 13,322 shares of the business’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 sale, the president now directly owns 63,682 shares in the company, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on FULT. Hovde Group boosted their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a report on Monday, January 27th. Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods lifted their price target on Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, January 23rd. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, DA Davidson boosted their price target on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.64.

Fulton Financial Stock Down 0.8 %

Shares of NASDAQ FULT opened at $18.02 on Friday. 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 $3.28 billion, a PE ratio of 11.48 and a beta of 0.76. Fulton Financial Co. has a one year low of $13.87 and a one year high of $22.49. The business’s fifty day moving average price is $19.71 and its 200-day moving average price is $19.42.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, beating the consensus estimate of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, equities research analysts anticipate that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.00%. Fulton Financial’s dividend payout ratio is 45.86%.

Fulton Financial Profile

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.