AE Wealth Management LLC Sells 2,968 Shares of Fulton Financial Corporation $FULT

AE Wealth Management LLC reduced its stake in Fulton Financial Corporation (NASDAQ:FULT) by 17.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,460 shares of the bank’s stock after selling 2,968 shares during the quarter. AE Wealth Management LLC’s holdings in Fulton Financial were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Fulton Financial during the 1st quarter valued at $17,263,000. Jane Street Group LLC increased its stake in Fulton Financial by 914.9% in the first quarter. Jane Street Group LLC now owns 308,243 shares of the bank’s stock valued at $5,576,000 after acquiring an additional 277,871 shares during the last quarter. Public Sector Pension Investment Board raised its position in Fulton Financial by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 577,492 shares of the bank’s stock valued at $10,447,000 after purchasing an additional 124,019 shares in the last quarter. AlphaQuest LLC raised its position in Fulton Financial by 771.6% during the second quarter. AlphaQuest LLC now owns 138,512 shares of the bank’s stock valued at $2,499,000 after purchasing an additional 122,621 shares in the last quarter. Finally, Vest Financial LLC lifted its stake in Fulton Financial by 100.7% during the second quarter. Vest Financial LLC now owns 167,681 shares of the bank’s stock worth $3,025,000 after purchasing an additional 84,152 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Performance

Shares of NASDAQ:FULT opened at $17.78 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $18.23 and a 200-day moving average price of $18.24. The company 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 12 month low of $14.32 and a 12 month 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 for the quarter. As a group, equities analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were paid a $0.18 dividend. 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 (DPR) is presently 37.70%.

Insider Buying and Selling

In related news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction on Friday, September 12th. The shares were sold at an average price of $19.28, for a total value of $96,400.00. Following the sale, the director owned 90,477 shares in the company, valued at $1,744,396.56. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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