LSV Asset Management Sells 20,000 Shares of Fulton Financial Co. (NASDAQ:FULT)

LSV Asset Management decreased its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 916,975 shares of the bank’s stock after selling 20,000 shares during the period. LSV Asset Management’s holdings in Fulton Financial were worth $17,679,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in Fulton Financial during the 4th quarter valued at approximately $1,676,000. Invesco Ltd. increased its holdings in shares of Fulton Financial by 9.8% during the fourth quarter. Invesco Ltd. now owns 1,326,578 shares of the bank’s stock valued at $25,576,000 after acquiring an additional 117,946 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Fulton Financial by 10.8% during the fourth quarter. Bank of Montreal Can now owns 21,013 shares of the bank’s stock valued at $405,000 after acquiring an additional 2,047 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Fulton Financial by 6.3% in the 4th quarter. Federated Hermes Inc. now owns 291,302 shares of the bank’s stock worth $5,616,000 after purchasing an additional 17,182 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Fulton Financial by 23.3% in the 4th quarter. Wells Fargo & Company MN now owns 123,937 shares of the bank’s stock worth $2,390,000 after purchasing an additional 23,445 shares in the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FULT has been the subject of a number of analyst reports. Hovde Group raised their price objective on shares of Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research note on Monday, January 27th. DA Davidson raised their price target on shares of Fulton Financial from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods increased their target price on Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Fulton Financial has a consensus rating of “Hold” and an average target price of $20.64.

Insider Activity

In related news, President Angela M. Snyder sold 13,322 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now directly owns 63,682 shares in the company, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.07% of the company’s stock.

Fulton Financial Trading Down 0.3 %

Shares of FULT stock opened at $15.19 on Friday. The stock has a market capitalization of $2.77 billion, a P/E ratio of 9.68 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. The firm’s 50 day moving average is $18.46 and its 200 day moving average is $19.26. Fulton Financial Co. has a 12-month low of $13.87 and a 12-month high of $22.49.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) 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 prior year, the company posted $0.42 EPS. Research analysts expect that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.74%. Fulton Financial’s dividend payout ratio is currently 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.