Valley National Advisers Inc. Grows Position in Fulton Financial Co. (NASDAQ:FULT)

Valley National Advisers Inc. lifted its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,700 shares of the bank’s stock after purchasing an additional 1,150 shares during the quarter. Valley National Advisers Inc.’s holdings in Fulton Financial were worth $591,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FULT. State Street Corp increased its position in shares of Fulton Financial by 4.4% in the third 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 in the last quarter. Geode Capital Management LLC increased its holdings in Fulton Financial by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank’s stock worth $79,264,000 after acquiring an additional 85,574 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fulton Financial by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,358,099 shares of the bank’s stock worth $42,752,000 after acquiring an additional 31,754 shares in the last quarter. Fisher Asset Management LLC raised its position in Fulton Financial by 4.2% during the third quarter. Fisher Asset Management LLC now owns 1,908,477 shares of the bank’s stock worth $34,601,000 after acquiring an additional 77,072 shares during the period. Finally, Emerald Advisers LLC lifted its holdings in Fulton Financial by 213.6% during the third quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock valued at $23,706,000 after purchasing an additional 890,630 shares in the last quarter. 72.02% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fulton Financial

In related news, President Angela M. Snyder sold 13,322 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the completion of the transaction, the president now directly owns 63,682 shares in the company, valued at approximately $1,317,580.58. This represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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. This represents a 13.43 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Hovde Group upped their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. DA Davidson lifted their price target on Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods boosted their price target on Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, January 23rd. Finally, Piper Sandler set a $21.00 price objective on Fulton Financial in a report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.64.

Fulton Financial Price Performance

NASDAQ:FULT opened at $20.34 on Monday. Fulton Financial Co. has a one year low of $13.87 and a one year high of $22.49. The stock has a market cap of $3.70 billion, a PE ratio of 12.96 and a beta of 0.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50 day moving average price of $20.39 and a 200 day moving average price of $19.25.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, topping the consensus estimate of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same quarter last year, the firm posted $0.42 EPS. Equities research analysts expect that Fulton Financial Co. will post 1.89 EPS for the current fiscal year.

Fulton Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.18 dividend. This is a boost from Fulton Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.72 annualized dividend and a dividend yield of 3.54%. Fulton Financial’s dividend payout ratio is 45.86%.

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.