Barclays PLC Acquires 176,206 Shares of Fulton Financial Co. (NASDAQ:FULT)

Barclays PLC increased its stake in Fulton Financial Co. (NASDAQ:FULT - Free Report) by 41.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 596,842 shares of the bank's stock after acquiring an additional 176,206 shares during the period. Barclays PLC owned approximately 0.33% of Fulton Financial worth $11,508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Fulton Financial in the fourth quarter worth approximately $38,010,000. JPMorgan Chase & Co. raised its holdings in shares of Fulton Financial by 137.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,322,616 shares of the bank's stock worth $25,500,000 after acquiring an additional 765,313 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Fulton Financial by 35.3% during the 4th quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank's stock worth $49,782,000 after purchasing an additional 673,559 shares in the last quarter. Trexquant Investment LP lifted its stake in Fulton Financial by 468.8% in the fourth quarter. Trexquant Investment LP now owns 420,930 shares of the bank's stock valued at $8,116,000 after acquiring an additional 346,933 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Fulton Financial in the 4th quarter valued at $5,678,000. 72.02% of the stock is owned by institutional investors.

Fulton Financial Stock Performance

Shares of NASDAQ FULT traded up $0.09 during mid-day trading on Friday, hitting $16.69. The company had a trading volume of 1,131,389 shares, compared to its average volume of 1,562,334. Fulton Financial Co. has a 12 month low of $14.33 and a 12 month high of $22.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $3.04 billion, a P/E ratio of 10.63 and a beta of 0.68. The business's 50-day simple moving average is $17.56 and its 200-day simple moving average is $19.15.

Fulton Financial (NASDAQ:FULT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.08. The company had revenue of $322.64 million for the quarter, compared to analyst estimates of $315.07 million. Fulton Financial had a return on equity of 11.41% and a net margin of 15.87%. During the same quarter last year, the firm earned $0.40 EPS. As a group, 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 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 was Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.31%. Fulton Financial's payout ratio is presently 42.35%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Hovde Group increased 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. StockNews.com raised shares of Fulton Financial from a "sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Piper Sandler decreased their price objective 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. DA Davidson reiterated a "neutral" rating and issued a $20.00 target price on shares of Fulton Financial in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Fulton Financial from $24.00 to $21.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Fulton Financial presently has a consensus rating of "Hold" and an average target price of $19.79.

Insiders Place Their Bets

In other news, President Angela M. Snyder sold 13,322 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $20.69, for a total transaction of $275,632.18. Following the sale, the president now owns 63,682 shares in the company, valued at approximately $1,317,580.58. This represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.07% of the company's stock.

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.