Fulton Financial Corporation $FULT Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its stake in Fulton Financial Corporation (NASDAQ:FULT) by 47.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,663 shares of the bank’s stock after selling 22,870 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Fulton Financial were worth $463,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of FULT. Atlantic Union Bankshares Corp purchased a new position in shares of Fulton Financial in the second quarter worth $871,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of Fulton Financial during the first quarter valued at $760,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Fulton Financial in the 1st quarter valued at $425,000. Public Sector Pension Investment Board raised its stake in Fulton Financial by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 577,492 shares of the bank’s stock worth $10,447,000 after acquiring an additional 124,019 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Fulton Financial in the 2nd quarter worth $186,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Up 0.7%

Fulton Financial stock opened at $17.78 on Friday. The business’s 50-day moving average price is $18.23 and its 200 day moving average price is $18.22. 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 firm has a market cap of $3.21 billion, a price-to-earnings ratio of 9.31 and a beta of 0.88. Fulton Financial Corporation has a 52 week low of $14.32 and a 52 week high of $22.49.

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

Fulton Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued 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 yield of 4.0%. Fulton Financial’s dividend payout ratio is 37.70%.

Insider Transactions at Fulton Financial

In related news, Director E Philip Wenger sold 5,000 shares of the firm’s stock in a transaction 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 sale, the director owned 90,477 shares in the company, valued at approximately $1,744,396.56. This trade represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.08% of the company’s stock.

Analyst Upgrades and Downgrades

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