Comprehensive Financial Planning Inc. PA Takes Position in Fulton Financial Co. (NASDAQ:FULT)

Comprehensive Financial Planning Inc. PA purchased a new position in shares of Fulton Financial Co. (NASDAQ:FULT) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 15,596 shares of the bank’s stock, valued at approximately $301,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC purchased a new position in shares of Fulton Financial during the 4th quarter worth approximately $329,000. Cullinan Associates Inc. grew its holdings in Fulton Financial by 18.5% during the fourth quarter. Cullinan Associates Inc. now owns 16,000 shares of the bank’s stock worth $308,000 after acquiring an additional 2,500 shares during the period. Valley National Advisers Inc. raised its position in Fulton Financial by 3.9% in the fourth quarter. Valley National Advisers Inc. now owns 30,700 shares of the bank’s stock worth $591,000 after acquiring an additional 1,150 shares in the last quarter. EMC Capital Management lifted its holdings in Fulton Financial by 151.2% in the fourth quarter. EMC Capital Management now owns 22,607 shares of the bank’s stock valued at $436,000 after acquiring an additional 13,607 shares during the period. Finally, Coston McIsaac & Partners boosted its position in shares of Fulton Financial by 231.8% during the 4th quarter. Coston McIsaac & Partners now owns 9,887 shares of the bank’s stock worth $190,000 after purchasing an additional 6,907 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FULT. Hovde Group increased their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a report on Monday, January 27th. Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. DA Davidson boosted 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. Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Finally, StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.64.

Fulton Financial Trading Down 1.3 %

Shares of FULT opened at $20.67 on Monday. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $20.27 and a 200-day simple moving average of $19.28. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 13.17 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business earned $0.42 earnings per share. Equities analysts forecast that Fulton Financial Co. will post 1.91 EPS 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 3.48%. This is a positive change from Fulton Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, December 31st. Fulton Financial’s dividend payout ratio is 45.86%.

Insiders Place Their Bets

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $21.16, for a total value of $511,902.72. Following the sale, the chief executive officer now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares of the company’s stock, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. 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.