Legacy Advisors LLC Sells 276,033 Shares of Fulton Financial Corporation $FULT

Legacy Advisors LLC lowered its holdings in Fulton Financial Corporation (NASDAQ:FULT) by 98.2% during the second quarter, Holdings Channel.com reports. The firm owned 5,071 shares of the bank’s stock after selling 276,033 shares during the period. Fulton Financial accounts for about 0.1% of Legacy Advisors LLC’s portfolio, making the stock its 18th largest position. Legacy Advisors LLC’s holdings in Fulton Financial were worth $91,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in FULT. Campbell & CO Investment Adviser LLC bought a new stake in Fulton Financial during the 2nd quarter worth about $938,000. Fox Run Management L.L.C. lifted its position in shares of Fulton Financial by 44.4% during the second quarter. Fox Run Management L.L.C. now owns 23,659 shares of the bank’s stock worth $427,000 after purchasing an additional 7,280 shares in the last quarter. Savant Capital LLC grew its stake in shares of Fulton Financial by 50.7% during the second quarter. Savant Capital LLC now owns 29,634 shares of the bank’s stock valued at $535,000 after purchasing an additional 9,976 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Fulton Financial during the second quarter valued at approximately $871,000. Finally, Teacher Retirement System of Texas increased its holdings in shares of Fulton Financial by 42.2% in the second quarter. Teacher Retirement System of Texas now owns 43,627 shares of the bank’s stock valued at $787,000 after purchasing an additional 12,947 shares in the last quarter. 72.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FULT shares. Zacks Research lowered Fulton Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $20.00 price target (down previously from $22.00) on shares of Fulton Financial in a research note on Thursday, October 23rd. Raymond James Financial upgraded Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, October 7th. Weiss Ratings downgraded shares of Fulton Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, DA Davidson lifted their price target on shares of Fulton Financial from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.70.

Fulton Financial Stock Performance

Shares of NASDAQ:FULT opened at $17.69 on Tuesday. The firm’s 50 day simple moving average is $18.37 and its 200 day simple moving average is $18.21. Fulton Financial Corporation has a fifty-two week low of $14.32 and a fifty-two week high of $22.49. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 9.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.89 and a quick ratio of 0.89.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, November 8th. The bank reported $0.45 EPS for the quarter. The firm had revenue of $236.96 million during the quarter. Fulton Financial had a net margin of 19.01% and a return on equity of 12.55%. As a group, sell-side analysts forecast that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 37.70%.

Insider Buying and Selling

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $19.28, for a total transaction of $96,400.00. Following the transaction, the director directly owned 90,477 shares in the company, valued at approximately $1,744,396.56. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.08% of the company’s stock.

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.