Legato Capital Management LLC Sells 19,187 Shares of Fulton Financial Corporation (NASDAQ:FULT)

Legato Capital Management LLC decreased its stake in shares of Fulton Financial Corporation (NASDAQ:FULT - Free Report) by 30.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,454 shares of the bank's stock after selling 19,187 shares during the period. Legato Capital Management LLC's holdings in Fulton Financial were worth $804,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Readystate Asset Management LP acquired a new position in shares of Fulton Financial in the first quarter worth about $536,000. Y Intercept Hong Kong Ltd boosted its stake in Fulton Financial by 369.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 52,080 shares of the bank's stock worth $942,000 after buying an additional 40,997 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Fulton Financial by 2.0% in the 1st quarter. Private Advisor Group LLC now owns 35,552 shares of the bank's stock valued at $643,000 after purchasing an additional 704 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of Fulton Financial in the first quarter worth about $760,000. Finally, Edgestream Partners L.P. raised its holdings in Fulton Financial by 4.0% during the 1st quarter. Edgestream Partners L.P. now owns 301,046 shares of the bank's stock worth $5,446,000 after purchasing an additional 11,691 shares during the last quarter. Institutional investors own 72.02% of the company's stock.

Wall Street Analyst Weigh In

FULT has been the subject of a number of research reports. Piper Sandler reissued a "neutral" rating on shares of Fulton Financial in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods increased their price objective on Fulton Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. DA Davidson lifted their price target on Fulton Financial from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Fulton Financial in a report on Wednesday, July 9th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Fulton Financial has an average rating of "Hold" and an average target price of $21.13.

Fulton Financial Stock Performance

Shares of NASDAQ FULT traded down $0.11 during trading on Friday, reaching $18.60. 1,395,079 shares of the stock traded hands, compared to its average volume of 1,955,271. The company has a 50-day moving average of $18.10 and a 200-day moving average of $18.33. The stock has a market capitalization of $3.38 billion, a P/E ratio of 10.88 and a beta of 0.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.89 and a quick ratio of 0.88. Fulton Financial Corporation has a 52-week low of $14.32 and a 52-week high of $22.49.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.43 by $0.12. The firm had revenue of $328.45 million for the quarter, compared to analyst estimates of $320.47 million. Fulton Financial had a return on equity of 12.44% and a net margin of 17.00%. During the same period in the prior year, the company earned $0.52 EPS. Analysts forecast that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Tuesday, July 1st. Fulton Financial's payout ratio is presently 42.11%.

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.