Fulton Financial Co. (NASDAQ:FULT) Shares Sold by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. lowered its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,418 shares of the bank’s stock after selling 2,095 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Fulton Financial were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new stake in shares of Fulton Financial during the 2nd quarter valued at approximately $46,000. Coston McIsaac & Partners purchased a new position in Fulton Financial in the 3rd quarter valued at approximately $54,000. Blue Trust Inc. raised its holdings in Fulton Financial by 21.9% during the second quarter. Blue Trust Inc. now owns 3,840 shares of the bank’s stock worth $61,000 after purchasing an additional 691 shares during the last quarter. Headlands Technologies LLC acquired a new position in Fulton Financial during the first quarter worth $66,000. Finally, AE Wealth Management LLC purchased a new stake in Fulton Financial during the second quarter worth $172,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on FULT shares. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Fulton Financial has a consensus rating of “Hold” and a consensus target price of $18.83.

Fulton Financial Price Performance

Shares of NASDAQ FULT traded down $0.21 during trading on Monday, reaching $17.85. The company had a trading volume of 192,786 shares, compared to its average volume of 1,457,776. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.26. Fulton Financial Co. has a twelve month low of $13.19 and a twelve month high of $20.33. The stock has a 50-day moving average price of $18.10 and a two-hundred day moving average price of $17.49. The stock has a market capitalization of $3.25 billion, a PE ratio of 11.43 and a beta of 0.73.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, October 15th. The bank reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. Fulton Financial had a net margin of 16.37% and a return on equity of 11.14%. The firm had revenue of $487.33 million during the quarter, compared to the consensus estimate of $321.00 million. During the same quarter in the previous year, the company posted $0.43 EPS. As a group, sell-side analysts predict that Fulton Financial Co. will post 1.75 earnings per share for the current year.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Tuesday, October 1st. Fulton Financial’s payout ratio is 43.04%.

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.