Eagle Wealth Strategies LLC Has $1.84 Million Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Eagle Wealth Strategies LLC lessened its holdings in Fulton Financial Co. (NASDAQ:FULT) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 95,195 shares of the bank’s stock after selling 1,347 shares during the quarter. Fulton Financial accounts for 1.3% of Eagle Wealth Strategies LLC’s holdings, making the stock its 13th largest position. Eagle Wealth Strategies LLC’s holdings in Fulton Financial were worth $1,835,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FULT. Quarry LP acquired a new position in Fulton Financial during the 3rd quarter worth approximately $33,000. Coston McIsaac & Partners bought a new stake in shares of Fulton Financial during the third quarter worth $54,000. Blue Trust Inc. increased its holdings in shares of Fulton Financial by 28.8% during the third quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock worth $84,000 after buying an additional 1,106 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Fulton Financial by 11.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after acquiring an additional 676 shares during the last quarter. Finally, AE Wealth Management LLC acquired a new stake in shares of Fulton Financial during the 2nd quarter valued at $172,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Performance

Shares of FULT stock opened at $21.11 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. Fulton Financial Co. has a one year low of $13.87 and a one year high of $22.49. The business’s 50 day simple moving average is $20.49 and its 200 day simple moving average is $19.09. The stock has a market capitalization of $3.84 billion, a PE ratio of 13.36 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.33%. During the same period last year, the company posted $0.42 EPS. As a group, research analysts forecast that Fulton Financial Co. will post 1.74 earnings per share for the current year.

Fulton Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.41%. This is an increase from Fulton Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, December 31st. Fulton Financial’s payout ratio is currently 45.57%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FULT. Piper Sandler set a $21.00 target price on Fulton Financial in a report on Thursday, October 17th. Stephens raised Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods lifted their target price on shares of Fulton Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.50.

Insider Activity at Fulton Financial

In other news, 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 sale, the chief executive officer now owns 155,946 shares in the company, valued at $3,299,817.36. The trade was a 13.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.07% of the stock is owned by corporate insiders.

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.