Eagle Wealth Strategies LLC Takes Position in Fulton Financial Co. (NASDAQ:FULT)

Eagle Wealth Strategies LLC acquired a new stake in Fulton Financial Co. (NASDAQ:FULT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 96,740 shares of the bank’s stock, valued at approximately $1,592,000. Fulton Financial accounts for about 1.0% of Eagle Wealth Strategies LLC’s investment portfolio, making the stock its 14th biggest holding. Eagle Wealth Strategies LLC owned 0.06% of Fulton Financial at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. boosted its stake in shares of Fulton Financial by 16.0% in the third quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock valued at $20,370,000 after purchasing an additional 232,462 shares during the period. Janney Montgomery Scott LLC raised its holdings in Fulton Financial by 76.7% in the third quarter. Janney Montgomery Scott LLC now owns 158,034 shares of the bank’s stock valued at $1,914,000 after acquiring an additional 68,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Fulton Financial by 3.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,258 shares of the bank’s stock valued at $1,206,000 after acquiring an additional 2,223 shares in the last quarter. Neo Ivy Capital Management raised its holdings in Fulton Financial by 519.7% in the third quarter. Neo Ivy Capital Management now owns 20,040 shares of the bank’s stock valued at $243,000 after acquiring an additional 16,806 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Fulton Financial by 0.4% in the third quarter. Northern Trust Corp now owns 1,879,238 shares of the bank’s stock valued at $22,758,000 after acquiring an additional 8,292 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Up 8.2 %

FULT stock opened at $16.90 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. Fulton Financial Co. has a twelve month low of $9.64 and a twelve month high of $17.06. The company’s 50 day moving average is $15.30 and its two-hundred day moving average is $15.05. The stock has a market cap of $2.74 billion, a P/E ratio of 9.70 and a beta of 0.81.

Fulton Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 4.02%. Fulton Financial’s payout ratio is currently 42.24%.

Analysts Set New Price Targets

Several analysts recently weighed in on FULT shares. Keefe, Bruyette & Woods raised their target price on shares of Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a report on Thursday, January 18th. Janney Montgomery Scott raised shares of Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 target price on the stock in a report on Monday. Stephens reduced their target price on shares of Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating on the stock in a report on Thursday, April 18th. Jefferies Financial Group reduced their target price on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Finally, StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.00.

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.