EMC Capital Management Sells 13,101 Shares of Fulton Financial Corporation $FULT

EMC Capital Management decreased its holdings in Fulton Financial Corporation (NASDAQ:FULT) by 58.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,506 shares of the bank’s stock after selling 13,101 shares during the quarter. EMC Capital Management’s holdings in Fulton Financial were worth $171,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FULT. Quarry LP increased its holdings in shares of Fulton Financial by 1,669.6% during the first quarter. Quarry LP now owns 1,982 shares of the bank’s stock worth $36,000 after purchasing an additional 1,870 shares during the period. Wealth Preservation Advisors LLC bought a new stake in shares of Fulton Financial in the first quarter valued at approximately $60,000. Strs Ohio acquired a new stake in Fulton Financial during the first quarter worth approximately $152,000. Bare Financial Services Inc increased its stake in Fulton Financial by 24.1% during the 1st quarter. Bare Financial Services Inc now owns 9,595 shares of the bank’s stock worth $174,000 after acquiring an additional 1,864 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Fulton Financial in the 2nd quarter valued at $186,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings lowered Fulton Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Zacks Research cut shares of Fulton Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Raymond James Financial raised shares of Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 target price (down from $22.00) on shares of Fulton Financial in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.70.

Fulton Financial Stock Performance

Fulton Financial stock opened at $17.25 on Wednesday. Fulton Financial Corporation has a 12-month low of $14.32 and a 12-month high of $22.49. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $18.14 and its two-hundred day moving average price is $18.24. The stock has a market cap of $3.12 billion, a PE ratio of 9.03 and a beta of 0.88.

Fulton Financial (NASDAQ:FULT) last posted 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, analysts expect that Fulton Financial Corporation will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders 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 4.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Fulton Financial’s payout ratio is presently 37.70%.

Insider Activity

In related news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $19.28, for a total transaction of $96,400.00. Following the sale, the director owned 90,477 shares in the company, valued at $1,744,396.56. The trade was a 5.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.08% of the company’s stock.

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.