LSV Asset Management Cuts Holdings in Fulton Financial Corporation $FULT

LSV Asset Management trimmed its position in Fulton Financial Corporation (NASDAQ:FULT) by 2.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 887,375 shares of the bank’s stock after selling 18,800 shares during the quarter. LSV Asset Management’s holdings in Fulton Financial were worth $16,008,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FULT. Nuveen LLC bought a new stake in Fulton Financial in the 1st quarter worth approximately $17,263,000. Jane Street Group LLC grew its holdings in shares of Fulton Financial by 914.9% in the first quarter. Jane Street Group LLC now owns 308,243 shares of the bank’s stock valued at $5,576,000 after purchasing an additional 277,871 shares in the last quarter. Public Sector Pension Investment Board increased its position in Fulton Financial by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 577,492 shares of the bank’s stock worth $10,447,000 after purchasing an additional 124,019 shares during the last quarter. AlphaQuest LLC increased its position in Fulton Financial by 771.6% in the second quarter. AlphaQuest LLC now owns 138,512 shares of the bank’s stock worth $2,499,000 after purchasing an additional 122,621 shares during the last quarter. Finally, Vest Financial LLC raised its stake in Fulton Financial by 100.7% during the second quarter. Vest Financial LLC now owns 167,681 shares of the bank’s stock valued at $3,025,000 after purchasing an additional 84,152 shares in the last quarter. 72.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on FULT. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $20.00 price objective (down from $22.00) on shares of Fulton Financial in a research note on Thursday, October 23rd. Raymond James Financial raised shares of Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, October 7th. Weiss Ratings lowered Fulton Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Zacks Research cut Fulton Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.70.

Fulton Financial Trading Up 0.9%

Shares of NASDAQ FULT opened at $17.40 on Thursday. 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 debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 9.11 and a beta of 0.88. The business’s 50 day moving average price is $18.10 and its 200-day moving average price is $18.23.

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

Fulton Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Fulton Financial’s payout ratio is currently 37.70%.

Insider Activity at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $19.28, for a total value of $96,400.00. Following the transaction, the director owned 90,477 shares of the company’s stock, valued at $1,744,396.56. This trade represents a 5.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.08% 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.