Fulton Financial Co. (NASDAQ:FULT) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 34.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 426,419 shares of the bank’s stock after selling 228,644 shares during the period. Prudential Financial Inc. owned 0.23% of Fulton Financial worth $8,221,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in Fulton Financial in the 3rd quarter valued at $763,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Fulton Financial by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,358,099 shares of the bank’s stock valued at $42,752,000 after purchasing an additional 31,754 shares during the period. Citigroup Inc. increased its position in Fulton Financial by 7.6% during the third quarter. Citigroup Inc. now owns 404,878 shares of the bank’s stock worth $7,340,000 after purchasing an additional 28,539 shares during the last quarter. Cerity Partners LLC raised its stake in Fulton Financial by 28.0% during the third quarter. Cerity Partners LLC now owns 49,399 shares of the bank’s stock worth $896,000 after purchasing an additional 10,820 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Fulton Financial in the 3rd quarter valued at about $426,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction dated 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 owns 63,682 shares in the company, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.07% of the stock is currently owned by insiders.

Fulton Financial Stock Down 1.6 %

Shares of NASDAQ:FULT opened at $17.97 on Friday. The firm’s 50-day moving average is $19.50 and its two-hundred day moving average is $19.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. Fulton Financial Co. has a 1 year low of $13.87 and a 1 year high of $22.49. The firm has a market capitalization of $3.27 billion, a PE ratio of 11.45 and a beta of 0.76.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $0.42 EPS. Analysts predict that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.01%. Fulton Financial’s dividend payout ratio (DPR) is presently 45.86%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FULT shares. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. DA Davidson lifted their target price on Fulton Financial from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Hovde Group raised their price objective on Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods upped their target price on shares of Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, January 23rd. 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.64.

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.