Cullinan Associates Inc. Sells 2,000 Shares of Fulton Financial Corporation $FULT

Cullinan Associates Inc. trimmed its position in shares of Fulton Financial Corporation (NASDAQ:FULT) by 12.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,000 shares of the bank’s stock after selling 2,000 shares during the quarter. Cullinan Associates Inc.’s holdings in Fulton Financial were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. lifted its holdings in shares of Fulton Financial by 10.6% during the 2nd quarter. QRG Capital Management Inc. now owns 128,144 shares of the bank’s stock valued at $2,312,000 after buying an additional 12,302 shares during the period. Paragon Capital Management Ltd bought a new position in shares of Fulton Financial during the 2nd quarter valued at $216,000. State of Alaska Department of Revenue lifted its holdings in shares of Fulton Financial by 7.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 108,186 shares of the bank’s stock valued at $1,951,000 after buying an additional 7,292 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Fulton Financial by 3.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,594 shares of the bank’s stock valued at $718,000 after buying an additional 1,291 shares during the period. Finally, Strs Ohio bought a new position in shares of Fulton Financial during the 1st quarter valued at $152,000. 72.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FULT has been the topic of several research analyst reports. Piper Sandler reissued a “neutral” rating on shares of Fulton Financial in a report on Wednesday, July 9th. Zacks Research cut Fulton Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. DA Davidson raised their target price on Fulton Financial from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fulton Financial in a report on Saturday, September 27th. Finally, Keefe, Bruyette & Woods raised their target price on Fulton Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Fulton Financial currently has an average rating of “Hold” and an average target price of $21.13.

Insider Buying and Selling

In related news, Director E Philip Wenger sold 5,000 shares of Fulton Financial stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $19.28, for a total value of $96,400.00. Following the completion of the transaction, the director owned 90,477 shares in the company, valued at approximately $1,744,396.56. This trade represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.07% of the company’s stock.

Fulton Financial Trading Up 0.7%

Shares of Fulton Financial stock opened at $18.35 on Monday. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 10.73 and a beta of 0.82. The business has a 50-day moving average price of $18.82 and a 200-day moving average price of $17.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. Fulton Financial Corporation has a twelve month low of $14.32 and a twelve month high of $22.49.

Fulton Financial (NASDAQ:FULT) last issued its quarterly earnings data on Tuesday, July 15th. The bank reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. The firm had revenue of $328.45 million during the quarter, compared to analyst estimates of $320.47 million. Fulton Financial had a return on equity of 12.64% and a net margin of 17.00%.During the same quarter last year, the business posted $0.52 earnings per share. Equities research analysts anticipate that Fulton Financial Corporation will post 1.91 EPS for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.9%. Fulton Financial’s dividend payout ratio (DPR) is presently 42.11%.

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.