KLP Kapitalforvaltning AS Makes New $698,000 Investment in Fulton Financial Co. (NASDAQ:FULT)

KLP Kapitalforvaltning AS bought a new stake in Fulton Financial Co. (NASDAQ:FULT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,900 shares of the bank’s stock, valued at approximately $698,000.

A number of other large investors also recently made changes to their positions in FULT. Nordea Investment Management AB increased its stake in Fulton Financial by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 567,790 shares of the bank’s stock valued at $11,007,000 after buying an additional 34,844 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Fulton Financial by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank’s stock valued at $45,837,000 after acquiring an additional 19,329 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Fulton Financial by 130.4% during the third quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock worth $10,104,000 after acquiring an additional 315,435 shares during the period. EMC Capital Management boosted its position in Fulton Financial by 151.2% in the fourth quarter. EMC Capital Management now owns 22,607 shares of the bank’s stock worth $436,000 after purchasing an additional 13,607 shares during the last quarter. Finally, Allworth Financial LP grew its stake in Fulton Financial by 1,255.1% in the 4th quarter. Allworth Financial LP now owns 20,381 shares of the bank’s stock valued at $420,000 after purchasing an additional 18,877 shares during the period. 72.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Hovde Group boosted their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods increased their target price on shares of Fulton Financial from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, January 23rd. DA Davidson lifted 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. StockNews.com raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, Stephens upgraded Fulton Financial from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.64.

Fulton Financial Trading Down 1.5 %

NASDAQ:FULT opened at $17.81 on Wednesday. The company has a market cap of $3.24 billion, a P/E ratio of 11.34 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. The stock’s fifty day moving average price is $19.38 and its two-hundred day moving average price is $19.45.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm posted $0.42 earnings per share. As a group, 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 paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, April 1st. Fulton Financial’s dividend payout ratio is 45.86%.

Insider Buying and Selling

In other news, President Angela M. Snyder sold 13,322 shares of Fulton Financial stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the completion of the sale, the president now owns 63,682 shares in the company, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.07% of the stock is owned by company insiders.

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.