WBI Investments LLC Cuts Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

WBI Investments LLC decreased its holdings in shares of Fulton Financial Co. (NASDAQ:FULT) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,092 shares of the bank’s stock after selling 1,836 shares during the quarter. WBI Investments LLC’s holdings in Fulton Financial were worth $413,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FULT. Norges Bank bought a new stake in shares of Fulton Financial during the 4th quarter valued at $27,805,000. Dimensional Fund Advisors LP increased its position in shares of Fulton Financial by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,918,831 shares of the bank’s stock valued at $196,188,000 after purchasing an additional 297,923 shares during the last quarter. American Century Companies Inc. increased its position in shares of Fulton Financial by 16.0% during the 3rd quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock valued at $20,370,000 after purchasing an additional 232,462 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Fulton Financial by 6.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,961,441 shares of the bank’s stock valued at $23,753,000 after acquiring an additional 117,935 shares during the period. Finally, Eagle Wealth Strategies LLC bought a new position in shares of Fulton Financial during the 4th quarter valued at approximately $1,592,000. 72.02% of the stock is owned by hedge funds and other institutional investors.

Fulton Financial Trading Down 1.2 %

NASDAQ:FULT traded down $0.21 during midday trading on Thursday, hitting $16.80. 145,587 shares of the company traded hands, compared to its average volume of 1,394,634. The firm’s fifty day moving average is $15.93 and its 200-day moving average is $15.60. Fulton Financial Co. has a 12-month low of $10.99 and a 12-month high of $17.68. The firm has a market capitalization of $3.05 billion, a P/E ratio of 10.49 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Fulton Financial had a return on equity of 11.73% and a net margin of 18.31%. The company had revenue of $230.36 million for the quarter, compared to analyst estimates of $268.90 million. On average, sell-side analysts predict that Fulton Financial Co. will post 1.52 EPS for the current year.

Fulton Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.68 dividend on an annualized basis and a yield of 4.05%. Fulton Financial’s payout ratio is 42.24%.

Analysts Set New Price Targets

FULT has been the subject of several recent analyst reports. StockNews.com downgraded Fulton Financial from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Stephens upped their price target on Fulton Financial from $15.50 to $17.50 and gave the stock an “equal weight” rating in a research note on Tuesday, May 7th. Keefe, Bruyette & Woods upped their price target on Fulton Financial from $17.00 to $19.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 30th. Janney Montgomery Scott upgraded Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 price target for the company in a research note on Monday, April 29th. Finally, Jefferies Financial Group lowered their target price on Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.00.

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.