Bare Financial Services Inc Makes New $98,000 Investment in Fulton Financial Co. (NASDAQ:FULT)

Bare Financial Services Inc acquired a new position in shares of Fulton Financial Co. (NASDAQ:FULT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,946 shares of the bank’s stock, valued at approximately $98,000.

Other large investors also recently modified their holdings of the company. Morton Brown Family Wealth LLC acquired a new position in shares of Fulton Financial during the 4th quarter worth about $26,000. Blue Trust Inc. boosted its stake in shares of Fulton Financial by 82.8% during the 4th quarter. Blue Trust Inc. now owns 1,724 shares of the bank’s stock worth $28,000 after buying an additional 781 shares during the last quarter. Strs Ohio acquired a new position in shares of Fulton Financial during the 4th quarter worth about $29,000. Disciplined Equity Management Inc. acquired a new position in shares of Fulton Financial during the 4th quarter worth about $32,000. Finally, First Command Advisory Services Inc. acquired a new position in shares of Fulton Financial during the 3rd quarter worth about $38,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FULT has been the subject of several recent analyst reports. StockNews.com downgraded shares of Fulton Financial from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. DA Davidson raised their target price on shares of Fulton Financial from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday. Jefferies Financial Group cut their target price on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Janney Montgomery Scott upgraded shares of Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price objective for the company in a research report on Monday. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Fulton Financial from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.60.

Fulton Financial Stock Performance

FULT stock traded up $0.07 during mid-day trading on Thursday, hitting $16.97. 2,862,330 shares of the company were exchanged, compared to its average volume of 1,366,163. The business has a 50 day simple moving average of $15.38 and a 200-day simple moving average of $15.13. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $2.75 billion, a PE ratio of 10.56 and a beta of 0.77. Fulton Financial Co. has a 1-year low of $9.64 and a 1-year high of $17.34.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.68 annualized dividend and a dividend yield of 4.01%. Fulton Financial’s dividend payout ratio is presently 42.24%.

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.