McClarren Financial Advisors Inc. Invests $44,000 in Fulton Financial Co. (NASDAQ:FULT)

McClarren Financial Advisors Inc. bought a new stake in shares of Fulton Financial Co. (NASDAQ:FULT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,316 shares of the bank’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Fulton Financial during the third quarter worth $33,000. Coston McIsaac & Partners purchased a new position in Fulton Financial during the 3rd quarter worth $54,000. Blue Trust Inc. increased its position in Fulton Financial by 28.8% during the 3rd quarter. Blue Trust Inc. now owns 4,946 shares of the bank’s stock valued at $84,000 after buying an additional 1,106 shares in the last quarter. TD Private Client Wealth LLC raised its stake in Fulton Financial by 11.6% in the third quarter. TD Private Client Wealth LLC now owns 6,519 shares of the bank’s stock valued at $118,000 after buying an additional 676 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Fulton Financial by 69.3% in the fourth quarter. KBC Group NV now owns 8,517 shares of the bank’s stock worth $164,000 after acquiring an additional 3,487 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Insider Buying and Selling

In related news, CEO Curtis J. Myers sold 24,192 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $21.16, for a total transaction of $511,902.72. Following the sale, the chief executive officer now directly owns 155,946 shares of the company’s stock, valued at approximately $3,299,817.36. This represents a 13.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Angela M. Snyder sold 13,322 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $20.69, for a total transaction of $275,632.18. Following the sale, the president now owns 63,682 shares in the company, valued at approximately $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 owned by corporate insiders.

Fulton Financial Stock Performance

Shares of NASDAQ FULT opened at $20.39 on Thursday. The company has a 50 day simple moving average of $20.22 and a two-hundred day simple moving average of $19.29. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 12.99 and a beta of 0.79. 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 12 month low of $13.87 and a 12 month high of $22.49.

Fulton Financial (NASDAQ:FULT) last posted its earnings results on Tuesday, January 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.42 earnings per share. As a group, analysts predict that Fulton Financial Co. will post 1.91 earnings per share for the current year.

Fulton Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.18 dividend. This is an increase 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 dividend on an annualized basis and a dividend yield of 3.53%. Fulton Financial’s dividend payout ratio is presently 45.86%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FULT shares. Keefe, Bruyette & Woods upped their price objective 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. Stephens raised shares of Fulton Financial from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Piper Sandler set a $21.00 price target on shares of Fulton Financial in a report on Thursday, October 17th. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, Hovde Group upped their target price on 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.64.

Fulton Financial 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.