Kennondale Capital Management LLC Makes New $558,000 Investment in Fulton Financial Co. (NASDAQ:FULT)

Kennondale Capital Management LLC acquired a new position in Fulton Financial Co. (NASDAQ:FULT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 28,942 shares of the bank’s stock, valued at approximately $558,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FULT. Cornercap Investment Counsel Inc. purchased a new stake in Fulton Financial in the third quarter worth about $248,000. Thrivent Financial for Lutherans grew its holdings in shares of Fulton Financial by 89.4% during the third quarter. Thrivent Financial for Lutherans now owns 309,252 shares of the bank’s stock valued at $5,606,000 after buying an additional 145,995 shares during the last quarter. Swiss National Bank grew its holdings in shares of Fulton Financial by 0.8% during the third quarter. Swiss National Bank now owns 354,900 shares of the bank’s stock valued at $6,434,000 after buying an additional 2,900 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of Fulton Financial during the third quarter valued at approximately $293,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Fulton Financial during the third quarter valued at approximately $3,489,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Up 1.0 %

FULT opened at $18.21 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. Fulton Financial Co. has a 1-year low of $13.87 and a 1-year high of $22.49. The company has a market capitalization of $3.32 billion, a PE ratio of 11.60 and a beta of 0.76. The firm’s 50 day simple moving average is $19.80 and its two-hundred day simple moving average is $19.46.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results 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 net margin of 15.87% and a return on equity of 11.41%. During the same period in the prior year, the firm earned $0.42 EPS. As a group, equities analysts forecast that Fulton Financial Co. will post 1.91 EPS for the current year.

Insiders Place Their Bets

In other Fulton Financial news, President Angela M. Snyder sold 13,322 shares of the 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 transaction, the president now directly owns 63,682 shares in the company, valued at approximately $1,317,580.58. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of 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 upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a 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 company a “neutral” rating in a research report on Friday, January 24th. Finally, Hovde Group increased their price objective on shares of 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fulton Financial 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.