Comerica Bank Reduces Holdings in Fulton Financial Corp (FULT)
Comerica Bank lessened its stake in Fulton Financial Corp (NASDAQ:FULT) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 225,949 shares of the bank’s stock after selling 21,356 shares during the quarter. Comerica Bank’s holdings in Fulton Financial were worth $3,620,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. UBS Group AG boosted its stake in Fulton Financial by 674.8% during the first quarter. UBS Group AG now owns 54,899 shares of the bank’s stock valued at $975,000 after buying an additional 47,813 shares during the last quarter. Ramsey Quantitative Systems lifted its stake in shares of Fulton Financial by 23.8% in the 2nd quarter. Ramsey Quantitative Systems now owns 36,855 shares of the bank’s stock valued at $608,000 after purchasing an additional 7,091 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Fulton Financial by 146.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 186,447 shares of the bank’s stock valued at $3,076,000 after purchasing an additional 110,688 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Fulton Financial by 381.7% in the 2nd quarter. Wells Fargo & Company MN now owns 877,595 shares of the bank’s stock valued at $14,480,000 after purchasing an additional 695,413 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Fulton Financial by 36.2% in the 2nd quarter. First Trust Advisors LP now owns 468,865 shares of the bank’s stock valued at $7,736,000 after purchasing an additional 124,551 shares during the last quarter. Hedge funds and other institutional investors own 62.07% of the company’s stock.
NASDAQ:FULT opened at $16.89 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.97 and a quick ratio of 0.97. Fulton Financial Corp has a 1 year low of $15.05 and a 1 year high of $19.55. The company has a market capitalization of $2.98 billion, a PE ratio of 15.79, a P/E/G ratio of 1.76 and a beta of 0.99.
In other Fulton Financial news, insider David M. Campbell purchased 6,002 shares of Fulton Financial stock in a transaction dated Thursday, November 8th. The shares were purchased at an average cost of $16.67 per share, for a total transaction of $100,053.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernest J. Waters purchased 2,000 shares of Fulton Financial stock in a transaction dated Thursday, November 8th. The stock was acquired at an average price of $16.71 per share, for a total transaction of $33,420.00. Following the completion of the acquisition, the director now owns 27,793 shares of the company’s stock, valued at approximately $464,421.03. The disclosure for this purchase can be found here. Corporate insiders own 0.84% of the company’s stock.
Several research firms have recently issued reports on FULT. BidaskClub raised Fulton Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. Boenning Scattergood reaffirmed a “hold” rating on shares of Fulton Financial in a research note on Wednesday, October 17th. Zacks Investment Research raised Fulton Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Friday, October 5th. Barclays raised Fulton Financial from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $18.00 to $19.00 in a research note on Wednesday, October 3rd. Finally, ValuEngine lowered Fulton Financial from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.83.
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About Fulton Financial
Fulton Financial Corporation operates as a multi-bank financial holding company that provides banking and financial services to businesses and consumers. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. The company also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; construction and jumbo residential mortgage loans; and commercial lending products comprising commercial, financial, agricultural, and real estate loans.
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