Watershed Asset Management L.L.C. Cuts Stock Holdings in Fulton Financial Co. (NASDAQ:FULT)

Watershed Asset Management L.L.C. decreased its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,874 shares of the bank’s stock after selling 2,035 shares during the quarter. Watershed Asset Management L.L.C.’s holdings in Fulton Financial were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in Fulton Financial by 16.0% in the third quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock worth $20,370,000 after purchasing an additional 232,462 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Fulton Financial by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,961,441 shares of the bank’s stock worth $23,753,000 after purchasing an additional 117,935 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in Fulton Financial in the third quarter worth approximately $1,163,000. Louisiana State Employees Retirement System purchased a new stake in Fulton Financial in the fourth quarter worth approximately $1,353,000. Finally, Janney Montgomery Scott LLC boosted its holdings in Fulton Financial by 76.7% in the third quarter. Janney Montgomery Scott LLC now owns 158,034 shares of the bank’s stock worth $1,914,000 after purchasing an additional 68,600 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Stock Performance

Shares of FULT stock traded up $0.13 during mid-day trading on Tuesday, reaching $15.34. 1,166,899 shares of the company’s stock traded hands, compared to its average volume of 1,118,789. Fulton Financial Co. has a 12 month low of $9.64 and a 12 month high of $17.06. The firm has a 50 day moving average price of $15.31 and a two-hundred day moving average price of $14.98. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $2.49 billion, a PE ratio of 9.53 and a beta of 0.81.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, March 28th. Fulton Financial’s dividend payout ratio (DPR) is 42.24%.

Analyst Ratings Changes

Several research analysts have weighed in on FULT shares. Jefferies Financial Group decreased their price target on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Thursday, January 18th. Stephens cut their price objective on shares of Fulton Financial from $16.00 to $15.50 and set an “equal weight” rating for the company in a research report on Thursday, April 18th. Finally, StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.17.

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.