Bayesian Capital Management LP increased its holdings in shares of Fulton Financial Co. (NASDAQ:FULT - Free Report) by 139.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,098 shares of the bank's stock after acquiring an additional 15,800 shares during the period. Bayesian Capital Management LP's holdings in Fulton Financial were worth $522,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Fulton Financial by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 22,383,504 shares of the bank's stock worth $431,554,000 after buying an additional 285,376 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Fulton Financial by 5.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,321,387 shares of the bank's stock valued at $83,316,000 after buying an additional 216,118 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Fulton Financial by 35.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,582,036 shares of the bank's stock valued at $49,782,000 after buying an additional 673,559 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fulton Financial by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,377,428 shares of the bank's stock valued at $45,837,000 after buying an additional 19,329 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Fulton Financial in the fourth quarter worth $38,010,000. Institutional investors own 72.02% of the company's stock.
Fulton Financial Stock Performance
Shares of FULT traded up $0.69 during trading hours on Monday, hitting $18.13. The stock had a trading volume of 241,856 shares, compared to its average volume of 1,444,698. 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 firm has a 50-day moving average price of $17.04 and a 200 day moving average price of $19.11. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 11.54 and a beta of 0.76. Fulton Financial Co. has a fifty-two week low of $14.33 and a fifty-two week high of $22.49.
Fulton Financial (NASDAQ:FULT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The bank reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.08. The company had revenue of $322.64 million during 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 period in the prior year, the business posted $0.40 earnings per share. As a group, research analysts anticipate that Fulton Financial Co. will post 1.91 EPS for the current year.
Fulton Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Tuesday, April 1st. Fulton Financial's dividend payout ratio (DPR) is 42.35%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on FULT. 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 note on Thursday, April 17th. Piper Sandler lowered 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. StockNews.com upgraded shares of Fulton Financial from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. DA Davidson reiterated a "neutral" rating and set a $20.00 price objective on shares of Fulton Financial in a report on Wednesday, April 16th. Finally, Hovde Group boosted their price target on shares of Fulton Financial from $22.00 to $22.50 and gave the company a "market perform" rating in a report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Fulton Financial has an average rating of "Hold" and a consensus price target of $20.30.
Check Out Our Latest Analysis on FULT
About Fulton Financial
(
Free Report)
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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