Fulton Financial Co. (NASDAQ:FULT) Stake Cut by WBI Investments LLC

WBI Investments LLC lessened its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 18.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,413 shares of the bank’s stock after selling 4,679 shares during the quarter. WBI Investments LLC’s holdings in Fulton Financial were worth $324,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Fulton Financial by 82.8% during the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after purchasing an additional 781 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in Fulton Financial by 0.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 93,045 shares of the bank’s stock worth $1,532,000 after purchasing an additional 872 shares during the period. AlphaMark Advisors LLC grew its holdings in Fulton Financial by 5.3% during the fourth quarter. AlphaMark Advisors LLC now owns 19,714 shares of the bank’s stock valued at $324,000 after purchasing an additional 993 shares during the last quarter. Morton Brown Family Wealth LLC bought a new position in shares of Fulton Financial in the fourth quarter valued at approximately $26,000. Finally, Strs Ohio acquired a new stake in shares of Fulton Financial in the fourth quarter worth $29,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Price Performance

FULT traded up $0.50 during midday trading on Thursday, hitting $17.50. The company had a trading volume of 2,158,309 shares, compared to its average volume of 1,405,735. Fulton Financial Co. has a twelve month low of $11.63 and a twelve month high of $17.68. The company has a market capitalization of $3.18 billion, a PE ratio of 10.56 and a beta of 0.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50-day simple moving average is $16.68 and its 200-day simple moving average is $16.00.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Fulton Financial had a net margin of 18.31% and a return on equity of 11.73%. The business had revenue of $230.36 million during the quarter, compared to analyst estimates of $268.90 million. Equities research analysts predict that Fulton Financial Co. will post 1.57 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Monday, July 1st. Fulton Financial’s dividend payout ratio is 42.24%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FULT. DA Davidson lifted their target price on shares of Fulton Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, April 30th. Janney Montgomery Scott raised Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price objective for the company in a research report on Monday, April 29th. Keefe, Bruyette & Woods raised their target price on Fulton Financial from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Tuesday, April 30th. Jefferies Financial Group dropped their target price on shares of Fulton Financial from $18.50 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Finally, StockNews.com lowered shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.40.

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.