14,058 Shares in Fulton Financial Co. (NASDAQ:FULT) Acquired by Bridgefront Capital LLC

Bridgefront Capital LLC bought a new stake in Fulton Financial Co. (NASDAQ:FULT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,058 shares of the bank’s stock, valued at approximately $271,000.

Several other hedge funds also recently bought and sold shares of FULT. Nordea Investment Management AB raised its stake in Fulton Financial by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 567,790 shares of the bank’s stock worth $11,007,000 after buying an additional 34,844 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fulton Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank’s stock valued at $45,837,000 after purchasing an additional 19,329 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Fulton Financial by 6.3% in the 4th quarter. Federated Hermes Inc. now owns 291,302 shares of the bank’s stock valued at $5,616,000 after purchasing an additional 17,182 shares during the period. JPMorgan Chase & Co. increased its stake in Fulton Financial by 130.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 557,303 shares of the bank’s stock worth $10,104,000 after purchasing an additional 315,435 shares in the last quarter. Finally, EMC Capital Management raised its holdings in Fulton Financial by 151.2% during the 4th quarter. EMC Capital Management now owns 22,607 shares of the bank’s stock worth $436,000 after buying an additional 13,607 shares during the period. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Fulton Financial Stock Performance

FULT opened at $17.12 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50-day simple moving average is $17.11 and its 200 day simple moving average is $19.09. The firm has a market capitalization of $3.12 billion, a PE ratio of 10.90 and a beta of 0.76. Fulton Financial Co. has a 52-week low of $14.33 and a 52-week high of $22.49.

Fulton Financial (NASDAQ:FULT) last released its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.44 by $0.08. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. The company had revenue of $322.64 million during the quarter, compared to the consensus estimate of $315.07 million. During the same quarter in the prior year, the firm posted $0.40 EPS. As a group, sell-side analysts expect that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.21%. Fulton Financial’s payout ratio is 42.35%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FULT. StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their price target on Fulton Financial from $24.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Hovde Group upped their price objective on Fulton Financial from $22.00 to $22.50 and gave the stock a “market perform” rating in a research report on Monday, January 27th. DA Davidson reissued a “neutral” rating and issued a $20.00 target price on shares of Fulton Financial in a research report on Wednesday, April 16th. Finally, Piper Sandler decreased their price target on shares of Fulton Financial from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Fulton Financial has an average rating of “Hold” and a consensus target price of $20.30.

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.