SRS Capital Advisors Inc. Grows Holdings in Fulton Financial Co. (NASDAQ:FULT)

SRS Capital Advisors Inc. lifted its holdings in Fulton Financial Co. (NASDAQ:FULT) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,464 shares of the bank’s stock after acquiring an additional 523 shares during the period. SRS Capital Advisors Inc. owned 0.05% of Fulton Financial worth $1,763,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FULT. State Street Corp grew its position in Fulton Financial by 4.4% in the 3rd 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. Geode Capital Management LLC grew its position in Fulton Financial by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,371,223 shares of the bank’s stock worth $79,264,000 after purchasing an additional 85,574 shares during the period. Fisher Asset Management LLC raised its position in shares of Fulton Financial by 35.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank’s stock worth $49,782,000 after acquiring an additional 673,559 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Fulton Financial by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,358,099 shares of the bank’s stock worth $42,752,000 after purchasing an additional 31,754 shares in the last quarter. Finally, Emerald Advisers LLC boosted its position in Fulton Financial by 213.6% during the third quarter. Emerald Advisers LLC now owns 1,307,559 shares of the bank’s stock worth $23,706,000 after acquiring an additional 890,630 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Stock Performance

FULT opened at $19.82 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a 12-month low of $13.87 and a 12-month high of $22.49. The stock’s 50 day moving average price is $20.09 and its two-hundred day moving average price is $19.47. The firm has a market capitalization of $3.61 billion, a P/E ratio of 12.62 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the firm earned $0.42 earnings per share. On average, equities analysts forecast that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.18 per share. This is a boost from Fulton Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.72 annualized dividend and a dividend yield of 3.63%. Fulton Financial’s payout ratio is currently 45.86%.

Insider Activity at Fulton Financial

In other Fulton Financial news, CEO Curtis J. Myers sold 24,192 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $21.16, for a total transaction of $511,902.72. Following the transaction, the chief executive officer now owns 155,946 shares of the company’s stock, valued at $3,299,817.36. The trade was a 13.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Angela M. Snyder sold 13,322 shares of the company’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 completion of the sale, the president now owns 63,682 shares in the company, valued at $1,317,580.58. This represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FULT has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their target price 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. StockNews.com upgraded Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Stephens upgraded shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. DA Davidson increased their price objective 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. Finally, Hovde Group lifted their price target 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Fulton Financial currently has a consensus rating of “Hold” and an average target price of $20.64.

About Fulton Financial

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.