Hazlett Burt & Watson Inc. Grows Position in Fulton Financial Co. (NASDAQ:FULT)

Hazlett Burt & Watson Inc. grew its stake in Fulton Financial Co. (NASDAQ:FULT) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,927 shares of the bank’s stock after buying an additional 1,509 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Fulton Financial were worth $692,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FULT. CIBC Private Wealth Group LLC bought a new stake in Fulton Financial during the 4th quarter worth approximately $251,000. Nomura Asset Management Co. Ltd. raised its position in shares of Fulton Financial by 57.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock valued at $42,000 after purchasing an additional 800 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Fulton Financial during the 4th quarter valued at $5,678,000. Norges Bank bought a new position in Fulton Financial in the 4th quarter worth $38,010,000. Finally, JPMorgan Chase & Co. increased its stake in Fulton Financial by 137.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank’s stock worth $25,500,000 after buying an additional 765,313 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

Insider Buying and Selling at Fulton Financial

In related news, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the transaction, the president now directly owns 63,682 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.07% of the company’s stock.

Analyst Upgrades and Downgrades

FULT has been the subject of a number of recent analyst reports. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, January 23rd. DA Davidson boosted their target price 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. Hovde Group raised their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research note on Monday, January 27th. Finally, Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Five 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 1.6 %

Shares of NASDAQ:FULT opened at $17.97 on Monday. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 11.45 and a beta of 0.76. Fulton Financial Co. has a 12 month low of $13.87 and a 12 month high of $22.49. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $19.50 and a 200 day moving average price of $19.45.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, beating 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 period last year, the business posted $0.42 earnings per share. As a group, equities research analysts predict that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.01%. The ex-dividend date is Tuesday, April 1st. Fulton Financial’s 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.