Intech Investment Management LLC Reduces Stock Holdings in Fulton Financial Corporation $FULT

Intech Investment Management LLC cut its holdings in Fulton Financial Corporation (NASDAQ:FULT) by 22.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 79,581 shares of the bank’s stock after selling 23,508 shares during the quarter. Intech Investment Management LLC’s holdings in Fulton Financial were worth $1,436,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Private Advisor Group LLC increased its holdings in shares of Fulton Financial by 2.0% during the first quarter. Private Advisor Group LLC now owns 35,552 shares of the bank’s stock valued at $643,000 after acquiring an additional 704 shares in the last quarter. Versor Investments LP grew its position in Fulton Financial by 1.3% during the 1st quarter. Versor Investments LP now owns 60,900 shares of the bank’s stock worth $1,102,000 after purchasing an additional 800 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Fulton Financial by 3.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,594 shares of the bank’s stock valued at $718,000 after purchasing an additional 1,291 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Fulton Financial by 5.5% in the second quarter. Wilmington Savings Fund Society FSB now owns 32,510 shares of the bank’s stock worth $586,000 after buying an additional 1,700 shares during the last quarter. Finally, Bare Financial Services Inc lifted its stake in shares of Fulton Financial by 24.1% during the first quarter. Bare Financial Services Inc now owns 9,595 shares of the bank’s stock worth $174,000 after buying an additional 1,864 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Insider Buying and Selling at Fulton Financial

In other news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $19.28, for a total transaction of $96,400.00. Following the completion of the transaction, the director directly owned 90,477 shares of the company’s stock, valued at $1,744,396.56. The trade was a 5.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.08% of the stock is currently owned by company insiders.

Fulton Financial Price Performance

Shares of FULT opened at $17.96 on Monday. The business’s 50-day moving average is $18.03 and its two-hundred day moving average is $18.25. The company has a market capitalization of $3.24 billion, a P/E ratio of 9.40 and a beta of 0.88. 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.

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 for the quarter. Fulton Financial had a return on equity of 12.55% and a net margin of 19.01%. Research analysts predict that Fulton Financial Corporation will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.0%. Fulton Financial’s dividend payout ratio (DPR) is presently 37.70%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FULT shares. Zacks Research downgraded Fulton Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Raymond James Financial raised Fulton Financial from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, October 7th. Weiss Ratings downgraded Fulton Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $20.00 target price (down previously 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.70.

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.