SRS Capital Advisors Inc. Raises Stake in Fulton Financial Co. (NASDAQ:FULT)

SRS Capital Advisors Inc. boosted its holdings in Fulton Financial Co. (NASDAQ:FULT) by 0.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 93,045 shares of the bank’s stock after buying an additional 872 shares during the period. SRS Capital Advisors Inc.’s holdings in Fulton Financial were worth $1,532,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings 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 buying an additional 117,935 shares during the period. Northern Trust Corp grew its holdings in Fulton Financial by 0.4% during the 3rd quarter. Northern Trust Corp now owns 1,879,238 shares of the bank’s stock valued at $22,758,000 after purchasing an additional 8,292 shares in the last quarter. American Century Companies Inc. increased its stake in Fulton Financial by 16.0% during the 3rd quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock worth $20,370,000 after buying an additional 232,462 shares during the period. New York State Common Retirement Fund lifted its holdings in Fulton Financial by 1.4% in the 4th quarter. New York State Common Retirement Fund now owns 481,189 shares of the bank’s stock worth $7,920,000 after buying an additional 6,484 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Fulton Financial by 0.6% in the 3rd quarter. Nordea Investment Management AB now owns 449,821 shares of the bank’s stock worth $5,470,000 after buying an additional 2,791 shares in the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FULT. Jefferies Financial Group reduced their price target on Fulton Financial from $17.00 to $16.00 and set a “hold” rating for the company in a report on Monday, April 8th. StockNews.com cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Friday, April 26th. DA Davidson increased their price objective on shares of Fulton Financial from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday. Janney Montgomery Scott upgraded shares of Fulton Financial from a “neutral” rating to a “buy” rating and set a $19.50 target price on the stock in a research note on Monday. Finally, Keefe, Bruyette & Woods upped their price objective on Fulton Financial from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Fulton Financial presently has an average rating of “Hold” and a consensus price target of $17.60.

Fulton Financial Stock Performance

NASDAQ:FULT traded up $0.10 during midday trading on Thursday, reaching $17.00. 1,154,940 shares of the company traded hands, compared to its average volume of 1,345,608. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 10.44 and a beta of 0.77. The company has a fifty day moving average price of $15.38 and a 200 day moving average price of $15.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. Fulton Financial Co. has a twelve month low of $9.64 and a twelve month high of $17.34.

Fulton Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.17 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.00%. Fulton Financial’s dividend payout ratio (DPR) is presently 42.24%.

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.