Cibc World Markets Corp Makes New $328,000 Investment in Fulton Financial Co. (NASDAQ:FULT)

Cibc World Markets Corp acquired a new stake in Fulton Financial Co. (NASDAQ:FULT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,994 shares of the bank’s stock, valued at approximately $328,000.

A number of other institutional investors have also recently made changes to their positions in the business. Natixis Advisors LLC boosted its position in Fulton Financial by 7.7% in the 4th quarter. Natixis Advisors LLC now owns 41,721 shares of the bank’s stock valued at $804,000 after buying an additional 2,990 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of Fulton Financial in the fourth quarter valued at $487,000. Swiss National Bank boosted its holdings in Fulton Financial by 0.8% in the fourth quarter. Swiss National Bank now owns 357,800 shares of the bank’s stock valued at $6,898,000 after purchasing an additional 2,900 shares during the period. HighTower Advisors LLC boosted its holdings in Fulton Financial by 1.4% in the fourth quarter. HighTower Advisors LLC now owns 63,321 shares of the bank’s stock valued at $1,221,000 after purchasing an additional 849 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Fulton Financial by 19.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,606 shares of the bank’s stock worth $879,000 after purchasing an additional 7,309 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Price Performance

Shares of FULT opened at $18.40 on Tuesday. The firm has a fifty day moving average price of $19.69 and a 200 day moving average price of $19.43. The stock has a market cap of $3.35 billion, a PE ratio of 11.72 and a beta of 0.76. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Tuesday, January 21st. The bank reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same period in the previous year, the business posted $0.42 EPS. As a group, sell-side analysts anticipate that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Tuesday, April 1st. Fulton Financial’s dividend payout ratio is currently 45.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Fulton Financial from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, January 23rd. DA Davidson boosted their price target on shares of Fulton Financial from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Finally, Hovde Group boosted their target price on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research note 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. According to MarketBeat, Fulton Financial presently has an average rating of “Hold” and an average price target 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 stock was sold at an average price of $20.69, for a total value of $275,632.18. Following the transaction, the president now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.07% of the stock is currently owned by insiders.

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.