Fulton Bank N.A. Sells 2,301 Shares of Fulton Financial Co. (NASDAQ:FULT)

Fulton Bank N.A. reduced its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 0.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,039,303 shares of the bank’s stock after selling 2,301 shares during the quarter. Fulton Financial accounts for about 1.5% of Fulton Bank N.A.’s investment portfolio, making the stock its 14th biggest holding. Fulton Bank N.A.’s holdings in Fulton Financial were worth $36,891,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in shares of Fulton Financial by 193.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,294 shares of the bank’s stock worth $25,000 after buying an additional 853 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Fulton Financial by 57.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,200 shares of the bank’s stock valued at $42,000 after acquiring an additional 800 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Fulton Financial in the 4th quarter worth approximately $44,000. Covestor Ltd lifted its position in Fulton Financial by 196.9% in the 4th quarter. Covestor Ltd now owns 3,976 shares of the bank’s stock valued at $76,000 after acquiring an additional 2,637 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Fulton Financial by 10.3% in the 4th quarter. Blue Trust Inc. now owns 5,455 shares of the bank’s stock valued at $99,000 after acquiring an additional 509 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors.

Fulton Financial Price Performance

Shares of FULT opened at $17.07 on Tuesday. The firm has a fifty day simple moving average of $16.90 and a two-hundred day simple moving average of $18.90. The firm has a market cap of $3.10 billion, a PE ratio of 10.87 and a beta of 0.76. 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 1-year low of $14.33 and a 1-year high of $22.49.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $315.07 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, equities analysts anticipate that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Tuesday, April 1st. Fulton Financial’s payout ratio is currently 42.35%.

Analyst Upgrades and Downgrades

A number of analysts have commented on FULT shares. Keefe, Bruyette & Woods reduced their target price on Fulton Financial from $24.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Piper Sandler reduced their price objective on Fulton Financial from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, DA Davidson restated a “neutral” rating and set a $20.00 target price on shares of Fulton Financial in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.30.

Fulton Financial Company 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.