Zacks Investment Management Sells 133,970 Shares of Fulton Financial Co. (NASDAQ:FULT)

Zacks Investment Management reduced its stake in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 65.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,425 shares of the bank's stock after selling 133,970 shares during the quarter. Zacks Investment Management's holdings in Fulton Financial were worth $1,339,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Fulton Financial in the fourth quarter worth about $38,010,000. JPMorgan Chase & Co. increased its holdings in Fulton Financial by 137.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank's stock worth $25,500,000 after purchasing an additional 765,313 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Fulton Financial by 35.3% during the 4th quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank's stock valued at $49,782,000 after buying an additional 673,559 shares during the last quarter. Trexquant Investment LP grew its position in shares of Fulton Financial by 468.8% during the fourth quarter. Trexquant Investment LP now owns 420,930 shares of the bank's stock worth $8,116,000 after buying an additional 346,933 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Fulton Financial in the fourth quarter worth $5,678,000. 72.02% of the stock is owned by institutional investors and hedge funds.

Fulton Financial Trading Up 0.7 %

Shares of FULT traded up $0.12 during midday trading on Thursday, hitting $16.56. The stock had a trading volume of 253,570 shares, compared to its average volume of 1,498,935. Fulton Financial Co. has a fifty-two week low of $14.32 and a fifty-two week high of $22.49. The business has a 50-day simple moving average of $17.72 and a two-hundred day simple moving average of $19.16. The firm has a market cap of $3.02 billion, a P/E ratio of 10.54 and a beta of 0.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The business had revenue of $322.64 million during the quarter, compared to analysts' expectations of $315.07 million. 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 posted $0.40 earnings per share. As a group, equities analysts forecast that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 4.35%. Fulton Financial's payout ratio is presently 42.35%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Piper Sandler dropped their price target on Fulton Financial from $22.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Hovde Group increased 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. DA Davidson reaffirmed a "neutral" rating and issued a $20.00 price objective on shares of Fulton Financial in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Fulton Financial has an average rating of "Hold" and a consensus target price of $19.79.

Insider Activity at Fulton Financial

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $20.69, for a total value of $275,632.18. Following the sale, the president now directly owns 63,682 shares in the company, valued at $1,317,580.58. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.07% of the stock is currently owned by company insiders.

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.