Stonebridge Financial Group LLC Purchases New Shares in Fulton Financial Co. (NASDAQ:FULT)

Stonebridge Financial Group LLC acquired a new position in Fulton Financial Co. (NASDAQ:FULT) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 8,611 shares of the bank’s stock, valued at approximately $166,000.

Several other hedge funds have also modified their holdings of FULT. Emerald Advisers LLC grew its stake in Fulton Financial by 213.6% in the 3rd quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock valued at $23,706,000 after acquiring an additional 890,630 shares during the period. Emerald Mutual Fund Advisers Trust lifted its holdings in Fulton Financial by 272.2% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 861,691 shares of the bank’s stock valued at $15,622,000 after purchasing an additional 630,152 shares in the last quarter. State Street Corp grew its position in shares of Fulton Financial by 4.4% in the third quarter. State Street Corp now owns 10,544,159 shares of the bank’s stock valued at $191,166,000 after purchasing an additional 444,219 shares during the period. JPMorgan Chase & Co. increased its stake in shares of 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. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Fulton Financial during the 3rd quarter worth about $3,489,000. 72.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Curtis J. Myers sold 24,192 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the completion of the transaction, the chief executive officer now directly owns 155,946 shares in the company, valued at approximately $3,299,817.36. This represents a 13.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Angela M. Snyder sold 13,322 shares of the firm’s 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 sale, the president now directly owns 63,682 shares of the company’s stock, 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 company insiders.

Fulton Financial Stock Down 2.3 %

Shares of FULT opened at $20.39 on Thursday. Fulton Financial Co. has a 52-week low of $13.87 and a 52-week high of $22.49. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $20.22 and a two-hundred day simple moving average of $19.29. The company has a market capitalization of $3.71 billion, a PE ratio of 12.99 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, topping 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 quarter in the prior year, the firm earned $0.42 EPS. As a group, equities analysts forecast that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.18 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from Fulton Financial’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 3.53%. Fulton Financial’s dividend payout ratio is currently 45.86%.

Analyst Upgrades and Downgrades

FULT has been the topic of several research analyst reports. Hovde Group lifted their price objective on 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 lifted their price target on Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, January 23rd. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Stephens raised shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Finally, Piper Sandler set a $21.00 target price on shares of Fulton Financial in a report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.64.

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.