Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Fulton Financial Co. (NASDAQ:FULT)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fulton Financial Co. (NASDAQ:FULT) by 19.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 45,606 shares of the bank’s stock after acquiring an additional 7,309 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fulton Financial were worth $879,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Fisher Asset Management LLC lifted its stake in Fulton Financial by 35.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank’s stock valued at $49,782,000 after buying an additional 673,559 shares in the last quarter. State Street Corp raised its holdings in shares of Fulton Financial by 4.4% during the third quarter. State Street Corp now owns 10,544,159 shares of the bank’s stock valued at $191,166,000 after acquiring an additional 444,219 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Fulton Financial by 130.4% in the third quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock valued at $10,104,000 after acquiring an additional 315,435 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Fulton Financial in the third quarter worth approximately $3,489,000. Finally, Barclays PLC boosted its stake in shares of Fulton Financial by 79.4% in the third quarter. Barclays PLC now owns 420,636 shares of the bank’s stock worth $7,626,000 after acquiring an additional 186,215 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on FULT. Keefe, Bruyette & Woods raised their price objective on Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, January 23rd. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Stephens raised shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. DA Davidson raised their target price on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Hovde Group upped their price target on Fulton Financial from $22.00 to $22.50 and gave the company a “market perform” rating in a research report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fulton Financial presently has an average rating of “Hold” and a consensus target price of $20.64.

Insider Activity at Fulton Financial

In other news, President Angela M. Snyder sold 13,322 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.69, for a total value of $275,632.18. Following the sale, the president now directly owns 63,682 shares of the company’s stock, valued at approximately $1,317,580.58. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.07% of the stock is owned by insiders.

Fulton Financial Stock Performance

Fulton Financial stock opened at $18.16 on Friday. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 11.57 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $19.73 and a 200-day simple moving average of $19.43. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.06. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period last year, the business earned $0.42 earnings per share. On average, analysts expect that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Tuesday, April 1st. Fulton Financial’s payout ratio is 45.86%.

Fulton Financial Company 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.