AQR Capital Management LLC Buys 16,944 Shares of Fulton Financial Co. (NASDAQ:FULT)

AQR Capital Management LLC boosted its stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,499 shares of the bank's stock after purchasing an additional 16,944 shares during the quarter. AQR Capital Management LLC owned about 0.12% of Fulton Financial worth $4,309,000 at the end of the most recent reporting period.

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

Fulton Financial Stock Down 0.6 %

Shares of FULT opened at $17.40 on Friday. The stock's 50-day moving average price is $17.04 and its two-hundred day moving average price is $19.09. Fulton Financial Co. has a 12 month low of $14.33 and a 12 month high of $22.49. The company has a market capitalization of $3.17 billion, a PE ratio of 11.08 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 (NASDAQ:FULT - Get Free Report) last announced its earnings results on Tuesday, April 15th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.44 by $0.08. The business had revenue of $322.64 million for the quarter, compared to analysts' expectations of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same period in the prior year, the business posted $0.40 earnings per share. On average, analysts anticipate that Fulton Financial Co. will post 1.91 EPS for the current year.

Fulton Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 annualized dividend and a yield of 4.14%. Fulton Financial's payout ratio is 42.35%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Piper Sandler dropped their target price on shares of Fulton Financial from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Keefe, Bruyette & Woods cut their target price on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. StockNews.com upgraded shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Hovde Group raised their price objective on Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a report on Monday, January 27th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $20.00 target price on shares of Fulton Financial in a report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.

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