Coston McIsaac & Partners Purchases 6,907 Shares of Fulton Financial Co. (NASDAQ:FULT)

Coston McIsaac & Partners increased its position in Fulton Financial Co. (NASDAQ:FULT) by 231.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,887 shares of the bank’s stock after purchasing an additional 6,907 shares during the quarter. Coston McIsaac & Partners’ holdings in Fulton Financial were worth $190,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FULT. Quarry LP acquired a new stake in Fulton Financial during the 3rd quarter worth approximately $33,000. Blue Trust Inc. boosted its holdings in Fulton Financial by 28.8% in the 3rd quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock valued at $84,000 after purchasing an additional 1,106 shares during the period. TD Private Client Wealth LLC grew its position in shares of Fulton Financial by 11.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock worth $118,000 after purchasing an additional 676 shares in the last quarter. KBC Group NV increased its holdings in shares of Fulton Financial by 69.3% during the fourth quarter. KBC Group NV now owns 8,517 shares of the bank’s stock worth $164,000 after purchasing an additional 3,487 shares during the period. Finally, MQS Management LLC acquired a new stake in shares of Fulton Financial in the third quarter valued at approximately $189,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Fulton Financial Trading Up 0.2 %

FULT opened at $20.48 on Thursday. The company has a market cap of $3.73 billion, a P/E ratio of 13.04 and a beta of 0.79. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $20.44 and its 200-day moving average is $19.23. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same period last year, the company earned $0.42 EPS. Equities research analysts predict that Fulton Financial Co. will post 1.79 earnings per share for the current fiscal year.

Fulton Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Fulton Financial’s previous quarterly dividend of $0.17. Fulton Financial’s dividend payout ratio is presently 45.86%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FULT shares. Piper Sandler set a $21.00 price objective on Fulton Financial in a research note on Thursday, October 17th. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Hovde Group upped their price objective 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. Stephens raised shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.64.

Insider Buying and Selling at Fulton Financial

In other news, CEO Curtis J. Myers sold 24,192 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction of $511,902.72. Following the completion of the transaction, the chief executive officer now owns 155,946 shares of the company’s stock, valued at approximately $3,299,817.36. This trade represents a 13.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Angela M. Snyder sold 13,322 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

Fulton Financial Company 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.