M&T Bank Corp decreased its holdings in Fulton Financial Corp (NASDAQ:FULT) by 79.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 100,674 shares of the bank’s stock after selling 394,290 shares during the quarter. M&T Bank Corp’s holdings in Fulton Financial were worth $1,802,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Citadel Advisors LLC raised its stake in Fulton Financial by 67.2% during the 3rd quarter. Citadel Advisors LLC now owns 1,198,412 shares of the bank’s stock worth $22,471,000 after acquiring an additional 481,665 shares during the period. Legacy Advisors LLC bought a new stake in Fulton Financial during the 3rd quarter worth approximately $4,641,000. Schwab Charles Investment Management Inc. raised its stake in Fulton Financial by 6.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,190,649 shares of the bank’s stock worth $21,313,000 after acquiring an additional 75,875 shares during the period. Smith Graham & Co. Investment Advisors LP raised its stake in Fulton Financial by 21.3% during the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 373,630 shares of the bank’s stock worth $6,688,000 after acquiring an additional 65,680 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in Fulton Financial by 549.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 75,634 shares of the bank’s stock worth $1,418,000 after acquiring an additional 63,990 shares during the period. 62.59% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the stock. Zacks Investment Research cut shares of Fulton Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. BidaskClub upgraded shares of Fulton Financial from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Barclays raised their target price on shares of Fulton Financial from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.80.
Shares of Fulton Financial Corp (FULT) opened at $18.95 on Friday. Fulton Financial Corp has a one year low of $16.45 and a one year high of $19.90. The company has a market cap of $3,318.56, a P/E ratio of 19.34 and a beta of 1.06. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.47.
Fulton Financial (NASDAQ:FULT) last released its earnings results on Monday, January 22nd. The bank reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. The company had revenue of $206.37 million for the quarter, compared to analysts’ expectations of $201.30 million. Fulton Financial had a net margin of 19.59% and a return on equity of 8.51%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. equities analysts forecast that Fulton Financial Corp will post 1.25 earnings per share for the current year.
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About Fulton Financial
Fulton Financial Corporation is a financial holding company. The Company is the bank holding company of Fulton Bank N.A. (the Bank). As of December 31, 2016, the Company’s six subsidiary banks were located primarily in suburban or semi-rural geographic markets throughout a five-state region (Pennsylvania, Delaware, Maryland, New Jersey and Virginia).
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