Hazlett Burt & Watson Inc. Boosts Position in Fulton Financial Co. (NASDAQ:FULT)

Hazlett Burt & Watson Inc. boosted its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 4.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 35,927 shares of the bank’s stock after purchasing an additional 1,509 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Fulton Financial were worth $692,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted 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. lifted its holdings in shares of Fulton Financial by 7.6% in the 3rd quarter. Citigroup Inc. now owns 404,878 shares of the bank’s stock worth $7,340,000 after buying an additional 28,539 shares during the period. Cerity Partners LLC grew its position in shares of Fulton Financial by 28.0% during the 3rd quarter. Cerity Partners LLC now owns 49,399 shares of the bank’s stock worth $896,000 after buying an additional 10,820 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Fulton Financial during the third quarter valued at $426,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Fulton Financial by 145.7% in the third quarter. BNP Paribas Financial Markets now owns 89,378 shares of the bank’s stock valued at $1,620,000 after acquiring an additional 52,997 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Stock Performance

Shares of Fulton Financial stock opened at $17.97 on Monday. The firm has a market capitalization of $3.27 billion, a P/E ratio of 11.45 and a beta of 0.76. 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 company has a 50 day moving average price of $19.50 and a 200 day moving average price of $19.45.

Fulton Financial (NASDAQ:FULT) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, beating 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 last year, the firm earned $0.42 EPS. Sell-side analysts expect that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 4.01%. Fulton Financial’s dividend payout ratio (DPR) is presently 45.86%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Fulton Financial

In related news, President Angela M. Snyder sold 13,322 shares of the business’s stock in a transaction 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 transaction, the president now directly owns 63,682 shares in the company, valued at $1,317,580.58. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.07% of the company’s stock.

About Fulton Financial

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.