Fulton Financial Co. (NASDAQ:FULT) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its position in Fulton Financial Co. (NASDAQ:FULT) by 8.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,643 shares of the bank’s stock after acquiring an additional 8,785 shares during the quarter. QRG Capital Management Inc. owned 0.06% of Fulton Financial worth $2,075,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FULT. Nordea Investment Management AB raised its holdings in Fulton Financial by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 567,790 shares of the bank’s stock worth $11,007,000 after purchasing an additional 34,844 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Fulton Financial by 130.4% during the third quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock worth $10,104,000 after purchasing an additional 315,435 shares in the last quarter. EMC Capital Management raised its holdings in Fulton Financial by 151.2% during the fourth quarter. EMC Capital Management now owns 22,607 shares of the bank’s stock worth $436,000 after purchasing an additional 13,607 shares in the last quarter. Allworth Financial LP raised its holdings in Fulton Financial by 1,255.1% during the fourth quarter. Allworth Financial LP now owns 20,381 shares of the bank’s stock worth $420,000 after purchasing an additional 18,877 shares in the last quarter. Finally, Apollon Wealth Management LLC acquired a new stake in Fulton Financial during the fourth quarter worth approximately $329,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on FULT shares. DA Davidson raised their price objective 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 price objective on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised their price objective 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. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Finally, StockNews.com upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Fulton Financial currently has a consensus rating of “Hold” and a consensus price target of $20.64.

Insider Activity at Fulton Financial

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the business’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 sale, the chief executive officer now directly owns 155,946 shares in the company, valued at approximately $3,299,817.36. The trade was a 13.43 % decrease in their position. The sale was disclosed in a document filed 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 sale, the president now owns 63,682 shares in the company, valued at $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.

Fulton Financial Stock Performance

Shares of FULT opened at $19.82 on Monday. The company’s 50 day simple moving average is $20.09 and its 200-day simple moving average is $19.49. 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 firm has a market cap of $3.61 billion, a PE ratio of 12.62 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data 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 business posted $0.42 EPS. As a group, equities analysts predict that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.63%. 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 (DPR) is 45.86%.

Fulton Financial 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.