Fulton Financial Co. (NASDAQ:FULT) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC cut its stake in shares of Fulton Financial Co. (NASDAQ:FULT – Get Rating) by 75.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,191 shares of the bank’s stock after selling 116,977 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Fulton Financial were worth $603,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Raymond James & Associates grew its position in Fulton Financial by 12.0% during the first quarter. Raymond James & Associates now owns 49,094 shares of the bank’s stock worth $816,000 after buying an additional 5,268 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Fulton Financial by 19.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 29,186 shares of the bank’s stock valued at $485,000 after purchasing an additional 4,742 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Fulton Financial during the first quarter worth $185,000. HighTower Advisors LLC boosted its position in Fulton Financial by 2.0% during the first quarter. HighTower Advisors LLC now owns 59,232 shares of the bank’s stock worth $986,000 after purchasing an additional 1,142 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in Fulton Financial by 2.9% in the first quarter. Private Advisor Group LLC now owns 31,259 shares of the bank’s stock valued at $520,000 after purchasing an additional 887 shares during the last quarter. Hedge funds and other institutional investors own 64.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. DA Davidson decreased their price objective on shares of Fulton Financial from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, January 19th. Janney Montgomery Scott assumed coverage on shares of Fulton Financial in a research report on Tuesday, January 10th. They issued a “neutral” rating and a $19.50 price target on the stock.

Fulton Financial Price Performance

Fulton Financial stock opened at $15.44 on Friday. The firm’s 50-day moving average is $16.76 and its two-hundred day moving average is $17.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $2.58 billion, a P/E ratio of 9.25 and a beta of 0.80. Fulton Financial Co. has a 12-month low of $13.72 and a 12-month high of $18.91.

Fulton Financial (NASDAQ:FULT – Get Rating) last issued its quarterly earnings results on Tuesday, January 17th. The bank reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). Fulton Financial had a net margin of 26.28% and a return on equity of 12.92%. The business had revenue of $284.54 million during the quarter, compared to analyst estimates of $285.36 million. Equities analysts predict that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Tuesday, January 3rd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Friday, December 30th. Fulton Financial’s payout ratio is 35.93%.

Insider Buying and Selling at Fulton Financial

In related news, Director George W. Hodges sold 6,799 shares of the firm’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $16.57, for a total value of $112,659.43. Following the sale, the director now directly owns 14,393 shares of the company’s stock, valued at $238,492.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fulton Financial news, Director George W. Hodges sold 6,799 shares of the stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $16.57, for a total transaction of $112,659.43. Following the transaction, the director now owns 14,393 shares of the company’s stock, valued at $238,492.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director George K. Martin acquired 2,910 shares of the stock in a transaction dated Tuesday, February 7th. The shares were bought at an average cost of $17.16 per share, with a total value of $49,935.60. Following the completion of the purchase, the director now directly owns 8,870 shares in the company, valued at $152,209.20. The disclosure for this purchase can be found here. 1.01% of the stock is owned by company insiders.

Fulton Financial Company Profile

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Fulton Financial Corp. is financial holding company, which through its subsidiaries, engages in the provision of consumer and commercial banking products and services. It offers checking account and savings deposit products, certificates of deposit and individual retirement accounts. The company also offers investment management, trust, brokerage, insurance and investment advisory services to consumer and commercial banking customers in the market areas serviced by the subsidiary banks.