Fulton Financial Co. (NASDAQ:FULT) Shares Purchased by Byrne Asset Management LLC

Byrne Asset Management LLC increased its position in shares of Fulton Financial Co. (NASDAQ:FULT) by 114.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,217 shares of the bank’s stock after acquiring an additional 1,717 shares during the quarter. Byrne Asset Management LLC’s holdings in Fulton Financial were worth $58,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FULT. Wealth Enhancement Advisory Services LLC raised its holdings in Fulton Financial by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,303 shares of the bank’s stock valued at $657,000 after buying an additional 684 shares during the period. SG Americas Securities LLC raised its holdings in Fulton Financial by 151.8% in the 1st quarter. SG Americas Securities LLC now owns 116,535 shares of the bank’s stock valued at $2,108,000 after buying an additional 70,253 shares during the period. GAMMA Investing LLC raised its holdings in Fulton Financial by 42.2% in the 1st quarter. GAMMA Investing LLC now owns 3,072 shares of the bank’s stock valued at $56,000 after buying an additional 911 shares during the period. Vest Financial LLC purchased a new stake in Fulton Financial in the 1st quarter valued at about $1,511,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Fulton Financial in the 4th quarter valued at about $4,773,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Fulton Financial Stock Down 1.9%

Shares of NASDAQ:FULT opened at $17.16 on Friday. The firm’s 50 day moving average price is $16.99 and its 200 day moving average price is $18.69. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 10.93 and a beta of 0.77. Fulton Financial Co. has a fifty-two week low of $14.33 and a fifty-two week high of $22.49. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32.

Fulton Financial (NASDAQ:FULT) last issued its earnings results on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.08. The firm had revenue of $322.64 million for the quarter, compared to analysts’ expectations of $315.07 million. Fulton Financial had a net margin of 15.87% and a return on equity of 11.41%. During the same quarter last year, the company earned $0.40 earnings per share. As a group, equities research analysts predict that Fulton Financial Co. will post 1.91 earnings per share for the current fiscal year.

Fulton Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a $0.18 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 4.20%. Fulton Financial’s dividend payout ratio is currently 42.35%.

Analyst Ratings Changes

FULT has been the topic of a number of recent research reports. Piper Sandler cut their price target on shares of Fulton Financial from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. DA Davidson reiterated a “neutral” rating and set a $20.00 price target on shares of Fulton Financial in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut their price target on shares of 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. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.