Fulton Financial (NASDAQ:FULT) Shares Gap Down to $15.44

Fulton Financial Co. (NASDAQ:FULT – Get Rating)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $15.44, but opened at $14.43. Fulton Financial shares last traded at $14.51, with a volume of 379,070 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FULT shares. Janney Montgomery Scott started coverage on shares of Fulton Financial in a research note on Tuesday, January 10th. They issued a “neutral” rating and a $19.50 price target for the company. DA Davidson decreased their price objective on shares of Fulton Financial from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, January 19th.

Fulton Financial Trading Up 0.9 %

The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 9.02 and a beta of 0.80. The business’s fifty day simple moving average is $16.73 and its 200 day simple moving average is $17.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.93 and a quick ratio of 0.93.

Fulton Financial (NASDAQ:FULT – Get Rating) last announced its quarterly earnings results on Tuesday, January 17th. The bank reported $0.48 earnings per share (EPS) 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 firm had revenue of $284.54 million for the quarter, compared to analyst estimates of $285.36 million. On average, research analysts predict that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Friday, December 30th. Fulton Financial’s dividend payout ratio (DPR) is 35.93%.

Insider Activity

In other news, Director George W. Hodges sold 6,799 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 14,393 shares of the company’s stock, valued at $238,492.01. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director George K. Martin acquired 2,910 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The shares were acquired at an average cost of $17.16 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George W. Hodges sold 6,799 shares of Fulton Financial stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $16.57, for a total transaction of $112,659.43. Following the sale, the director now owns 14,393 shares in the company, valued at $238,492.01. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Fulton Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC raised its position in Fulton Financial by 55.0% in the fourth quarter. Signaturefd LLC now owns 1,815 shares of the bank’s stock worth $31,000 after acquiring an additional 644 shares in the last quarter. Quadrant Capital Group LLC raised its position in Fulton Financial by 455.9% in the third quarter. Quadrant Capital Group LLC now owns 2,168 shares of the bank’s stock worth $34,000 after acquiring an additional 1,778 shares in the last quarter. Lazard Asset Management LLC raised its position in Fulton Financial by 1,554.1% in the first quarter. Lazard Asset Management LLC now owns 2,200 shares of the bank’s stock worth $36,000 after acquiring an additional 2,067 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Fulton Financial in the third quarter worth about $38,000. Finally, Almanack Investment Partners LLC. bought a new stake in Fulton Financial in the third quarter worth about $42,000. 64.84% of the stock is currently owned by institutional investors.

Fulton Financial Company Profile

(Get Rating)

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.